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Sector Update: Technology Shares Mixed Pre-Market; iGate's Q4 Results Best Street View

Top Technology Shares

MSFT: -0.11%

AAPL: -0.20%

IBM: +0.29%

CSCO: flat

GOOG: +0.13%

Technology shares are mixed in pre-market trading.

In technology sector news, iGATE Corporation ( IGTE ) reports Q4 earnings of $0.49 per share and revenue of $299.3 million, versus the Street consensus of $0.48 per share on $296 million in revenue.

Shares are trading close to a 52-week high of $41.41.

And, Tessera Technologies ( TSRA ) said Thursday that it is restructuring its DigitalOptics business to cease its remaining manufacturing operations and refocus efforts on monetizing DigitalOptics technologies, including solutions for imaging and MEMS technologies.

The company said the changes will enable it to return its focus to its core IP business, will substantially reduce the company's operating costs, and provide the company with a path to improved financial performance and profitability.

TSRA expects to take restructuring, impairment and other exit charges of $50 million - $55 million, with 75% of that charge in Q4 2013 and the remainder in the first half of 2014. As a result of the restructuring, the company expects its quarterly DigitalOptics related operating expenses to be reduced by $17 million, realized in full by Q3 2014.

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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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