Sector Update: Technology

By Staff,

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Technology stocks were adding slightly to small gains earlier in the session with shares of technology companies in the S&P 500 climbing 0.4% today.

In company news, Broadcom Corporation ( BRCM ) edged into positive territory after Zacks Investment Research today upgraded the semiconductor manufacturer to a "Strong Buy" on the back of its "solid Q3 results" and "new technology adoption in emerging markets."

The stock recently rose 0.1% to $29.19, trading within a 52-week range of $23.25 to $37.85.

Looking ahead, Zacks said BRCM is set to benefit from increased market penetration in emerging markets and new technology adoption by consumers in developed markets.

In other sector news,

(+) SPCB, Completes Smart ID acquisition, forming a company with $26.2 mln in combined 2012 pro-forma revenue and EPS of $0.88.

(-) BBRY, co-founder and former co-CEO Mike Lazaridis sells nearly 3.17 million shares for $7.63 each. He still owns around 26.3 million shares, or about 4.99% of the company's stock.

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: BRCM

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