Technology Stocks Holding On To Narrow Gains; Blackberry Seen Writing Down Another $1 Bln in Unsold Inventory

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Top Tech Stocks

MSFT +0.57%

AAPL +2.12%

IBM -0.45%

CSCO -0.75%

GOOG -0.52%

Technology stocks are narrowly higher with shares of technology companies in the S&P 500 rising about 0.2%.

In company news, Blackberry ( BBRY ) is ending about 1.4% higher at $10.54 a share, still largely trading in positive territory today despite a Bloomberg News report the company's inventory of unsold smartphones is now approaching $1 billion.

The story speculates BBRY could write down much of that inventory next week when it reports financial results for its fiscal Q2 ended last month. If it occurs, the write-down would be the company's fourth in two years.

In other sector news,

(+) KNDI, Confirms Chinese government's 2013-2015 subsidy policies for new-energy vehicles, paying up to to RMB 60,000 ($9,800) to support the purchase of an all-electric car and up to $81,700 to help pay for an electric bus.

(-) SSNC, Begins secondary offering of 7.47 mln shares of its common stock now held by funds affiliated with The Carlyle Group ( CG ). The financial-services software company will not receive any proceeds from the offering.



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: BBRY , CG

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