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Sector Update: Technology

By: MT Newswires
Posted: 9/18/2013 2:17:00 PM
Referenced Stocks: AAPL;BBRY;GOOG

Technology stocks are turning higher with the broader markets in the wake of the Federal Open Markets Committee's announcement this afternoon of unchanged policy. Shares of technology companies in the S&P 500 were last up 0.6%.

In company news, BlackBerry Ltd ( BBRY ) is lower, giving back early, moderate gains that followed the new launch of its Z30 smartphone at an event in Kuala Lumpur, Malaysia.

The new touchscreen device boasts a five-inch display and a 1.7 gigahertz processor and is intended to compete against Apple Inc's ( AAPL ) iPhone 5S and Samsung Electronics Co's Galaxy S4, along with a slew of other devices that are powered by Google Inc's ( GOOG ) Android platform.

In other sector news,

(+) ADBE (+6.4%) Despite missing EPS estimates, investors are cheered by the software firm's reporting 1.03 million paid Creative Cloud subscriptions at the end of Q3, up 47% from the prior quarter.

(-) DRWI (-15.4%) Prices 11.9 million new shares at $2.10 each, a discount of about 15% to Tuesday's closing price.