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Sector Update: Technology

By: MT Newswires
Posted: 10/28/2013 3:50:00 PM
Referenced Stocks: FIO;MSFT;ORCL

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

In company news, Fusion-io Inc. ( FIO ) is up 15% at $10.97 a share, climbing as high as $11.22 today after two of the flash-memory company's top executives purchased nearly 160,000 shares of its stock late last week.

CEO Shane Robison Friday bought 105,500 shares at an average price of $9.52 each, according to regulatory documents released today, spending just over $1 million in the string of open-market purchases.

Also on Friday, Chief Operating Officer Lance Smith exercised options to purchase 21,668 shares at 65 cents apiece and then bought another 31,250 shares are $1.96 each. His cash outlay totaled just over $75,300 for nearly 53,000 shares.

Separately today, FIO announced new updates to its Fusion ION data accelerator all-flash shared storage systems, adding an additional flash-based memory tier for companies using Microsoft ( MSFT ) and Oracle ( ORCL ) SQL servers.

In other sector news,

(+) GOOG, EU regulators reportedly are giving the search-engine company's rivals four weeks to review its latest proposal to address anti-trust concerns.

(-) DGLY, Files suit against Utility Associates Inc. seeking to halt the rival company sending more letters to existing and prospective DGLY customers alleging third-party purchasers could be liable for patent infringement.