During trading today, the S&P 500 dropped 0.8%, and the Technology sector (XLK) showed little change.
While being down today, the ETF, as a proxy for sector performance, tracked closer to the overall market today than over the past month. Entering today's trading, XLK was up 8.2% over the last thirty trading days while the S&P 500 was down 5%.
International Rectifier Corporation (IRF) was a major loser in the sector, falling 11.9% (-$2.19) to close at $16.29 with 1.4 million shares moving. The stock traded between $16.24 and $17.69. The stock has lost momentum over the last three months, losing $2.93 (-15.2%) from $19.22 on May 29, 2012.
Calix (CALX) was a significant gainer in the sector, rising 10%. The stock closed at $5.82 with 1.3 million shares moving. The stock traded in a range of $5.52 to $6.19. Over the last three months, the stock has lost $2.38 (-29%) from a price of $8.20 on May 29, 2012.
Logitech International (LOGI) rose 7% to close at $9.31, cross its 50-day moving average of $9.07 and 200-day moving average of $9.10. Hewlett-Packard (HPQ) declined 8.2% to close at $17.64, moving below its 50-day moving average of $19.11 and 200-day moving average of $22.28.
Mercadolibre (AWAY) fell 2.4% to close at $80.50, moving closer to its 50-day moving average of $78.24. Also, the stock moved closer to its 200-day moving average of $23.81.
Cirrus Logic (CRUS) hit a new 52-week high today, reaching $42.50 to top the previous high of $40.