Sector Update: Technology


Technology stocks are trying to solidify small gains heading into Thursday's close with shares of technology companies in the S&P 500 climbing about 0.2%.

In company news, Document Security Systems Inc. ( DSS ) is down over 10% at $1.24 a share, earlier falling to an all-time low of $1.12 after a Markman hearing in the company's patent case against Facebook Inc. ( FB ) and LinkedIn Corp. ( LNKD ) was tabled for an extra four months.

The plunge follows DSS - which merged with DSS Technology Management Inc. in July - announcing hearing dates for its upcoming cases, the soonest not occurring before late February. Previously, the hearing had been scheduled for next month.

DSS executives assert the later start does not reflect badly on their case, with CEO Jeff Ronaldi saying he views it solely as a scheduling adjustment that should have no impact on the outcome of the case."

FB is up 2.3% at $42.76 a share, hitting a fresh 52-week high, while LNKD is ahead 4.5% at $249.66, also reaching a new 52-week high today.

In other sector news,

(+) ENVI, Q2 loss of $0.07 per share is $0.10 narrower than Street consensus. Revenue rises 6.5% to $11.5 mln, also beating analyst estimates by $8.4 mln.

(-) EXA, Q2 revenue rose 7.6% year over year to $12.7 mln, missing analyst view by $350,000. Net loss of $0.04 per share matches consensus. Guides Q3, FY13 revenue guidance is in-line with estimates.

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.

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

This article appears in: Investing , Commodities

Referenced Stocks: DSS , FB , LNKD

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