Sector Update: Technology
Technology shares are generally higher in pre-bell trading as Microsoft ( MSFT ) reports earnings. MSFT is up about 6% in pre-bell trade after it reported 7% year-over-year growth in revenue for the first quarter.
In other technology earnings news, Maxwell Technologies ( MXWL ) reports Q3 EPS of $0.23 on revenues of $51.2 million, beating Capital IQ estimates of $0.12 per share in earnings.
And, Shutterfly ( SFLY ) has acquired BorrowLenses, a camera equipment renter, for undisclosed terms.
Finally, shares of Alliance Fiber Optic Products Inc. ( AFOP ) jumped in Friday's premarket session, after the supplier of fiber-optic components reported its third-quarter earnings nearly tripled on a jump in revenue and projected similar sales for the fourth quarter.
The shares are up more than 13% at $19.86. They have a 52-week range of $4.63 to $23.94.
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