Tech Stocks Holding Onto Small Gains

Technology stocks were moderately higher during Tuesday trade, with shares of tech companies in the S&P 500 turning in a 0.3% gain.

In company news, BlackBerry Ltd (BBRY,BB.TO) was higher Tuesday after the smartphone and related software company today reported a surprise Q3 profit as well as issuing FY17 guidance exceeding Wall Street and Bay Street expectations.

Excluding one-time items, the company earned $0.02 per share, topping the Capital IQ consensus expecting a $0.01 per share net loss. Revenue fell 45.1% from the same quarter last year to around $301 million, missing analyst estimates by around $26.5 million.

For FY17, Blackberry is now expecting to turn a yearly profit, improving on its prior forecast expecting a break-even year to $0.05 per share lower while analyst were looking for a $0.01 per share decline.

BBRY shares were up about 1.3% at $7.81 apiece, backing down from a prior run as high as $8.05 per share earlier today. The stock also was gaining in Canadian trade, with BB.TO shares recently rising about 1.3% to C$10.47 at the Toronto Stock Exchange.

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