Markets

Sector Update: Technology

Technology stocks were narrowly lower, with shares of technology companies in the S&P 500 falling 0.1%.

In company news, BlackBerry (BBRY,BB.TO) shares were higher Tuesday afternoon after the smartphone company said it was opening its BlackBerry 10 operating system to multiple mobile device management platforms.

According to BBRY, several companies - including AirWatch, Citrix ( CTXS ) and IBM ( IBM ) - have expressed an interest in working with BBRY to develop a more open mobility ecosystem. In doing so, BBRY would provide business customers with additional options by enabling other MDM companies to manage BlackBerry 10 devices.

BBRY shares were up 0.8% at $7.50 each in recent trading, earlier climbing to a session high of $7.57 a share. The stock has a 52-week range of $5.44 to $16.16 a share, falling 52.7% in value over the past 12 months.

BB.TO shares were ahead 1.1% at C$8.18 apiece in Toronto stock exchange trade, holding within 6 cents of its intra-day high.

In other sector news,

(+) RAX, (+9.0%) Earns $27.3 mln, or $0.18 per share, during Q1, beating Capital IQ consensus by $0.12 per share. Net revenue climbs 16% year over year to $421 mln, exceeding estimates by $1.47 mln. Guides Q2 revenue in-line with Street view.

(-) DQ, (-7.2%) Q1 net income of $0.38 per ADS, reverses $2.70 per share net loss in the year-ago period. Revenue rises 190% year over year to $42.1 mln. No analyst estimates were available for comparison.

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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