Markets

Sector Update: Technology

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

In company news, Microsoft ( MSFT ) is up about 1% at $33.12 a share, climbing as high as $33.47 after the software and increasingly device-maker boosted its quarterly dividend by $0.05 to $0.28 per share.

The company also authorized a $40-billion stock buyback program.

In other sector news,

(+) P, (+0.9%) Discloses plans to raise around $235 mln through the sale of 10 mln shares of its common stock.

(-) IBM, (-0.4%) Reportedly will announce plans to spend $1 bln over the next four to five years on Linux and related technologies, according to The Wall Street Journal. The announcement is expected at this week's LinuxCon developer's conference in New Orleans.

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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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