Sector Update: Technology

By Staff,

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Technology shares are higher in pre-bell trading. Rovi Corporation ( ROVI ) shares are up 1% after it said STM Holdings Limited has chosen DivX Video Service to power its new video-on-demand service in China.

As part of the licensing agreement STM will use DivX Plus Streaming, Rovi's streaming format with DivX DRM, as well as Rovi TotalCode, a video encoding solution. These solutions will initially be deployed to power a new STM service that will offer access to video entertainment in over 20,000 internet cafes in Greater China.

And, E*Trade ( ETFC ) is raised to buy from neutral at Goldman Sachs. Goldman also raised its price goal to $19 from $13.50. ETFC is up more than 2% in pre-market trade.

"...the recent regulatory sign-off on ETFC's capital plan creates a significant idiosyncratic opportunity to unlock shareholder value, which could lead to EPS doubling over the next 3 years and is not reflected in consensus estimates or the stock's valuation, in our view," analyst Alexander Blostein reportedly said.

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: ETFC , ROVI

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