Sector Update: Technology

By Staff,

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Technology shares were lower in pre-market trade Wednesday.

In technology-stocks news, Microsoft ( MSFT ) said Mason Morfit, president of ValueAct Capital, has been appointed to the company's board and its audit committee. Microsoft also maintained its quarterly dividend rate of $0.28 per share.

King Digital Entertainment ( KING ) priced its IPO at $24 per share with plans to sell $22.2 million shares.

Magnachip Semiconductor ( MX ) shares were down 9.2% at $13.00 after the semiconductor manufacturer withdrew its Q4 guidance and said it will restate results for 2011, 2012 and three quarters of 2013.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: MSFT , KING , MX

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