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Sector Update: Technology

Technology stocks were posting small declines, with shares of technology companies in the S&P 500 % down about 0.1.

In company news, SuperCom Ltd. ( SPCB ) shares rose to their best price in nearly six years Tuesday after the Israeli security software company posted a 161% jump in quarterly revenue over year-ago levels.

The company reported GAAP earnings of $0.10 per share, down from a $0.15 per share gain in the year ago period on $5.3 million in revenue. No analyst estimates were available for comparison.

"We are off to a great start in 2014," CEO Arie Trabelsi said in prepared remarks, explaining the bulk of the quarter's revenue were generated from recurring sources. "This, in combination with our newly awarded contracts, underlies our expectations of strong revenue growth and high levels of profitability in the coming quarters," he said.

Shares were ahead 10.6% at $10.01 each in recent trade, earlier climbing to a session high of $10.28 a share, posting some of its highest levels since July 2008.

In other sector news,

(+) ATEA, (+87.7%) Wins contract with a unnamed global IT-services company in France to strengthen and improve efficiencies of its service supply chain business, with an ATEA reseller, Six-Axe Consultants, responsible for execution and support.

(-) EBAY, (-2.8%) David Marcus, the president of EBAY's PayPal unit, leaves the online auction company to become the vice president of messaging products at Facebook ( FB ).

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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