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Sector Update: Technology

Technology stocks are higher today with shares of technology companies in the S&P 500 advancing about 0.6%.

In company news, Shares of 3D Systems Corp. ( DDD ) is ahead over 6% at $52.28 a share after analysts at Credit Suisse initiated coverage of the stock with an Outperform rating while starting coverage of rival three-dimensional printer company ExOne Co. ( XONE ) at Underperform.

Credit Suisse has a largely positive take on the sector. "Our main conclusion is that, despite the hype, additive manufacturing revenue growth could potentially exceed consensus forecasts for 20% annual sales growth in the coming years," according to a new research note obtained by MarketWatch.

XONE shares are down 1.6% at $50.00 each in late trade, up exactly $1 over its intra-day low.

In other sector news,

(+) MSFT, Increased its quarterly dividend 22% to $0.28 per share while also authorizing a $40-billion stock buyback program.

(-) IBM, Reportedly will announce plans at LinuxCon developer's conference later this week in New Orleans to spend $1 bln over the next four to five years on Linux and related technologies, according to The Wall Street Journal.

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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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