Tech Stocks Edge Back Into the Green Just in Time

Technology stocks remained little changed this afternoon, edging back to positive ground just before today’s closing bell, with shares of tech companies in the S&P 500 rising less than 0.1%.

In company news, TechTarget (TTGT) was narrowly higher in late Friday trading, after the marketing and sales technology company today launched its new website to serve the informational needs of business decision makers as they evaluate and use enterprise resource planning software.

The new website also will act as an independent online community that provides tips, case studies and unbiased guidance on recent innovations and the future direction of ERP technology.

In other sector news,

(+) RTNB, Planned Aug. 31 auction of substantially all company assets postponed until Sept. 28 while it continues to work with secured creditors to resolve its outstanding debt and an Aug. 16 foreclosure notice.

(-) AMBA, Q2 EPS of $0.48 beats Capital IQ consensus by $0.04 per share. Revenue rises 10% year over year to $71.6 mln, also topping the $70.8 mln consensus estimate. Guides Q3 revenue in-line with Street. Craig Hallum cuts stock rating to Hold while Stifel Nicolaus lowers price target by $12 to $52 a share, maintaining Buy recommendation.

By Patrick Maguire