Little Movement for Tech Stocks Monday

Technology stocks have turned slightly higher again this afternoon, reversing a small decline earlier and shares of tech companies in the S&P 500 advancing nearly 0.1%.

In company news, CounterPath Corp (CPAH,PATH.TO) was holding at its Monday session high in U.S. trade of $2.59 a share, rising over 11%, after the Canadian voice over internet protocol networking company today said a “leading” health care information technology company has purchased the company’s software development kit for use with their mobile communications equipment inside hospitals, clinics and other medical locations.

Financial terms and other details of the purchase as well as the identiny of the buyer were not disclosed.

CounterPath shares were little changed, slipping about 0.3% to C$3.25 each, in late Monday trade at the Toronto Stock Exchange.

In other sector news,

(+) SNCR, Decides exclusive deal with Siris Capital Partners would not be in the best interest for shareholders, given the continued interest from other parties during the company’s strategic review. Siris signals plans to end negotiations unless Synchronoss agreed to exclusive talks.

(-) CYBE, Citing lower-than-expected SMT system sales, trims Q3 revenue outlook to $11.6 mln to $11.8 mln from prior guidance expecting between $13 mln to $15 mln and lagging analyst mean expecting $13.8 mln in revenue. Also sees Q4 revenue in a range of $11.5 mln to $13 mln, trailing the $18.1 mln analyst consensus.

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