Sector Update: Technology

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Technology stocks are extending their slide this afternoon with shares of technology companies in the S&P 500 now retreating about 1.3% as a group.

In company news, Stratasys ( SSYS ) is up about 4% at $119.46 a share, earlier climbing to a new 52-week high, after reporting better-than-expected earnings and raising its guidance for the year.

The 3D printer maker posted per-share earnings of $0.45, ex items. Revenue rose 39% year over year to $126.1 million, topping estimates by $9.1 million.

SSYS also boosted its FY13 revenue guidance to $470 million to $490 million, beating analyst forecasts by at least $5 million. It sees EPS for the year of $1.75 to $1.90, in-line with estimates looking for a $1.83 per share annual profit.

In other sector news,

(+) TWTR , Shares opened at $45.10 each - a 73% premium to its $26-per-share IPO price - and climbed over $50 before stabilizing near $46. But the deal has at least one naysayer, with Pivotal Research reducing the new stock to Sell, saying it's "just too expensive."

(-) INWK, Misses with Q3 earnings, revenue. Slashes FY13 guidance, cutting projected EPS by $0.30 to a new range of $0.16 to $0.20 per share - trailing analyst consensus by at least $0.26. Also trims revenue forecast below Street view.



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Referenced Stocks: SSYS

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