During trading today, the Technology sector (XLK) showed little change while the S&P 500 fell 0.7%.
The ETF, as a proxy for the sector, tracked farther from the overall market today than over the past week. Entering today's trading, XLK was up 3.8% over the last seven trading days while the S&P 500 climbed 2.8%.
Medidata Solutions (MDSO) was a major gainer in the sector, rising 13.6% (+$4.24) to close at $35.41 with 753,858 shares moving. The stock traded in a range of $32.05 to $36.50. The stock has been on the rise in the last two months, up $8.27 (30.5%) from a price of $27.14 on June 1, 2012. Acxiom Corporation (ACXM) also gained today, climbing 85 cents (+5.3%) to close at $16.77.
Magnachip Semiconductor (MX) rose 13.1% to close at $10.18, cross its 50-day moving average of $9.17 and 200-day moving average of $9.93. General Cable Corporation (BGC) declined 5.2% to close at $26.13, moving below its 50-day moving average of $26.49 and 200-day moving average of $28.21.
BroadSoft (BSFT) rose 4.6% to close at $24.55, approaching its 50-day moving average of $25.03. It has also moved closer to its 200-day moving average of $31.52. The Ultimate Software Group (AYI) fell 3.1% to close at $89.47, moving closer to its 50-day moving average of $88.10. Also, the stock moved closer to its 200-day moving average of $56.44.
SL Industries (SLI) was one of the sector's big losers, as its price dropped 10.7% (-$1.65) to close at $13.72. 1,600 shares of the stock moved. The stock traded between $13.72 and $15.50.