Sector Update: Technology

By Staff,

Shutterstock photo

Technology shares were generally higher in pre-market trade Wednesday.

In technology stocks news, Envivio ( ENVI ), a provider of software-based video processing and delivery solutions, was up 22% after it said it is powering premium live HD sports channels on Apple TV for a European Tier 1 service provider.

And, Advanced Micro Devices Inc. ( AMD ) and Globalfoundries Inc. said late Tuesday that they agreed to a revised wafer supply agreement for 2014.

AMD expects to pay the chip producer $1.2 billion in 2014, according to the agreement that fixes prices and purchase commitments. The agreement doesn't affect AMD's financial goals and gross margin in 2014, the company said.

Globalfoundries was formed in 2009 when AMD divested its semiconductor production business.

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: ENVI , AMD

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