Technology stocks are little changed today with shares of technology companies in the S&P 500 climbing less than 0.1%.
In company news, Geospace Technologies Corp. ( GEOS ) were paring a portion of their earlier losses, trading about 5% lower with less than an hour left in Monday's session after BWS Financial reduced the maker of devices to measure seismic activity to Sell from Hold, predicting its FY14 earnings could as much as 35% from prior-year levels.
BWS also set a $75 target price on the stock.
In a note to clients, analyst Hamed Khorsand said revenue and earnings at GEOS over the past year were largely the result of a one-time contract from Statoil ASA ( STO ). The contract will be fulfilled in the first half of 2014, Khorsand explained.
GEOS last traded at $86.59, down 5.3%, after sliding to an intra-day low of $82.21 this morning.
In other sector news,
(+) SEED, Shares jump to two-year high as investors embrace the Chinese technology-focused supplier of crop seeds ahead of the release of FY13 results Wednesday morning.
(-) IPDN, LinkedIn Corp ( LNKD ) terminates Diversity Recruitment Partnership Agreement, effective March 30. The networking and job board for Latino professional said the move will have an unspecified negative impact on near-term revenue.
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