Technology Sector Wrap

Markets FOXBusiness

While the S&P 500 grew 0.6%, the Technology sector (XLK) showed little movement during trading today.

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Although it went in the opposite direction of the market today, the ETF tracked closer to the overall market today than over the past month. Entering today's trading, XLK was down 0.8% over the last thirty trading days while the S&P 500 was unchanged.

Servicesource International (SREV) fell 17.1% to close at $13.75, crossing its 50-day moving average of $15.82. Meanwhile, NetApp (NTAP) climbed 4.8% to close at $40.68, moving past its 200-day moving average of $39.81.

magicJack VocalTec (ARW) fell 5.1% to close at $23.69, moving closer to its 50-day moving average of $23.41. Also, the stock moved closer to its 200-day moving average of $38.30. SINA Corporation (SINA) rose 2.2% to close at $59.80, moving closer to its 50-day moving average of $63.80.

Veeco Instruments (VECO) was a major gainer in the sector, rising 15.3% (+$4.63) to close at $34.82 with 6.4 million shares moving. The stock traded in a range of $32.81 to $35.20. The stock has risen $8.99 (34.8%) over the last three months from a price of $25.83 on February 2, 2012. Advanced Energy Industries (AEIS) and Allot Communications (ALLT) also made significant gains in the sector.

Park Electrochemical (PKE) was a major loser in the sector. Its price dropped 9.7% (-$2.80) to close at $26.05, as 142,292 shares moved. The stock traded between $25.90 and $28.21. The stock has lost momentum over the last three months, losing $4.93 (-15.9%) from $30.98 on February 2, 2012.

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Sourcefire (FIRE) hit a new 52-week high today, reaching $58.83 to top the previous high of $52.54.

Geeknet (GKNT) hit a new 52-week low today, hitting $13.56 to fall below the previous low of $13.90.

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