Technology Sector Struggles Amid Broader Market Movement

Technology shares were mostly lower on July 30, 2010, as the sector failed to keep pace with gains in the broader market. The Dow Jones U.S. Technology Index fell 1.01 points, or 0.18%, to 575.85. Notable movers included Micron Technology, which declined after its CEO sold shares, and Alcatel-Lucent, which surged on a positive outlook for the second half of the year. Meanwhile, key tech stocks such as Microsoft, Apple, and Google experienced moderate losses.

Key Takeaways:

The Dow Jones U.S. Technology Index declined 1.01 points, or 0.18%, to 575.85 on July 30, 2010.
Micron Technology (MU) shares fell 0.59% to $7.31 after its CEO sold 103,385 shares, according to regulatory filings.
Alcatel-Lucent (ALU) shares rose sharply, up 15.4% to $3, on a positive outlook for the second half of the year.
Microsoft (MSFT) shares declined 1.11%, while Apple (AAPL) shares fell 0.15% and Google (GOOG) shares dropped 0.13%.
The Comtex SmarTrend Alert system indicated a downtrend for Apple on July 19, 2010, while Alcatel-Lucent and Google were in uptrends on July 14 and July 12, respectively.
Alcatel-Lucent CEO Ben Verwaayen attributed the company's positive outlook to a growing order book.

Statistics:

Dow Jones U.S. Technology Index: -1.01 points, -0.18%, to 575.85.
Micron Technology: -0.59% to $7.31.
Alcatel-Lucent: +15.4% to $3.
Microsoft: -1.11%.
Apple: -0.15%.
Google: -0.13%.
Comtex SmarTrend Alert uptrend dates:

+ CSCO: July 14, 2010.

+ GOOG: July 12, 2010.

Sources:

"MidnightTrader via COMTEX" (Boston, Jul 30, 2010).
"Comtex News Network, Inc." (www.mysmartrend.com).
"MarketWatch" (no date provided).