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Sector Update: Tech

Technology stocks were narrowly higher in late afternoon trade, reversing earlier gains and with shares of technology companies in the S&P 500 recently up about 0.1%.

In company news, Blonder Tongue Laboratories Inc. ( BDR ) rose to a three-year high Friday after the electronic components company late yesterday reported a big jump in revenue during the three months ended June 30 compared with year-ago levels, also reversing a year-ago net loss.

The company earned $347,000, or $0.06 per share, during the three months ended June 30, improving on a $660,000 net loss during the same quarter last year. Analyst estimates were not available for comparison.

Net sales increased 23.5% year over year to $8.82 million. BDR attributed the higher sales larger to an increase in digital video headend products and analog video headend products offset somewhat by a drop in sales of contract manufactured products.

BDR shares were ahead over 14% in late trade at $1.59 apiece, earlier advancing to their best share price since May 2011 at $1.78 a share.

In other sector news,

(+) WYY, Net revenue rises 9.2% year over year to $12.4 mln. Swings to $669,000 Q2 net loss, which includes around $400,000 in acquisition-related costs, reversing a $139,000 profit last year. No analyst estimates were available for comparison.

(-) ICLD, Q2 net loss widens to $9.97 mln, or $0.96 per share, from $1.31 mln last year and exceeds the Capital IQ consensus looking for a $0.39 per share loss. Revenue rises 34% year over year to $17.8 mln, lagging estimates by $4.7 mln.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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