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Sector Update: Technology Shares Higher; Telephone and Data Systems Reports Q3 Loss

Top Technology Stocks:

MSFT: +0.32%

AAPL: +0.30%

IBM: +0.14%

CSCO: +0.18%

GOOG: +0.23%

Technology shares are higher in pre-bell trading today. United States Cellular Corporation ( USM ), a wireless service provider, has swung to a Q3 net loss of $9.9 million, or $0.12 per diluted share, compared with a profit of $35 million, or $0.42 per share a year earlier.

Service revenues fell to $862.3 million from $1.03 billion a year ago.

And, Telephone and Data Systems ( TDS ) said it slipped into a Q3 loss of $0.09 per share compared to a profit of $0.26 the year earlier, nevertheless coming in ahead of the $0.10 average loss according to Capital IQ analyst estimates.

Operating revenues fell to $1.18 billion from $1.37 billion a year ago, but was more or less in line with the $1.2 billion consensus estimate.

For FY13, the provider of wireless, cable and wireline broadband, TV and voice services said it expects its FY sales to come in between $4.555 billion and $4.645 billion compared to the previous estimate of $4.550 billion -$4.690 billion. That is below the $4.9 billion consensus estimate.

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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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