Sector Update: Technology

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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 The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: BRCM

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