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Sector Update: Technology

By: MT Newswires
Posted: 1/6/2014 2:27:00 PM
Referenced Stocks: FSLR;LNKD;SCTY

Technology stocks are little changed today with shares of technology companies in the S&P 500 climbing less than 0.1%.

In company news, SolarCity ( SCTY ) has climbed to new all-time highs after Goldman Sachs added the solar-energy company to its Conviction Buy List, according to reports.

In a related move, the Goldman analysts also reduced First Solar Inc. ( FSLR ) to Sell, saying the company is not positioned for near-term growth. FSLR shares were off 9.5%.

SCTY rose as high as $67.14 apiece for a 13.2% advance during the first 30 minutes of today's session before settling into a range around $64.30 a share, up 8.5%.

In other sector news,

(+) SEED, (+30.5%) Shares jump to two-year highs as investors embrace the Chinese technology-focused supplier of crop seeds ahead of the release of FY13 results Wednesday morning.

(-) IPDN, (-28.9%, hit 52 week lows) LinkedIn Corp ( LNKD ) terminates Diversity Recruitment Partnership Agreement, effective March 30. The networking and job board for Latino professional said the move will have an unspecified negative impact on near-term revenue.