Top Tech Stocks
Technology stocks were higher Monday, with shares of technology
companies in the S&P 500 adding around 0.8% today.
In company news, shares of International Business Machines Corp.
) are higher in Monday trading after the tech giant said it was
expanding its cloud services to lure customers to its SoftLayer
Technologies Inc. business.
Big Blue plans to spend more than $1 billion on cloud software
development through 2015, a double-digit percentage increase from
the past two years. The move increases IBM's bet on SoftLayer
following its $2 billion acquisition last year and committing $1.2
billion in January to add 15 new data centers.
IBM sales have declined during each of the past seven quarters
as customers forego hardware purchases and increasingly rely on the
cloud instead of buying their own servers.
Shares rose about 1.1% in recent trade at $184.88 apiece,
staying less than 10 cents from its best level for the session. The
stock has a 52-week range of $172.19 to $215.90 a share.
In other sector news,
(+) BBRY, (+8.3%) Ford Motor Co. (
) reportedly will base its next-generation in-vehicle Sync system
using BBRY's QNX system to make mobile phone calls and play music,
replacing Microsoft (
) software, people briefed on the decision told Bloomberg.
(+) VC, (+1.1%) Forms strategic alliance with OpenSynergy, a
specialist in embedded automotive systems, to develop consumer
electronics in auto infotainment applications.