Sector Update: Technology

Описание: Technology shares are higher with Micron Technologies (MU) missing analyst forecasts for fiscal Q1, reporting a $0.15 a share profit on $2.25 billion in revenues. Analysts, on average, had been expecting a $2.08 a share gain. Sales also were below forecasts. The 19% drop in revenues from the prior quarter was largely due to a 23% decline in DRAM prices, more than overwhelming a 5% jump in unit sales volume, MU said.

Bel Fuse (BELFB) is on the hook for about $8.1 million in damages following a federal jury verdict that the network equipment-maker infringed on certain patents held by SynQor Inc. Bel Fuse was among 11 defendants in the trial, during which SynQor had withdrew its claims of willful misconduct by the other companies and its request for treble damages.