Almost two-thirds of executives who work in the technology sector reported angel investors as a source of funding in 2013, compared to just 41% of American execs, according to the annual innovation economy report from commercial lender Silicon Valley Bank.
In a study of the emerging technology sector, a report by the Center for an Urban Future found that many firms saw significant limits to expanding operations in New York due to housing costs.
In the technology sector, E*Trade reported profits that exceeded Wall Street's estimates and rose $1.19, or 29percentto to $7.85.
DealBook » Einhorn Loads Up on Apple | David Einhorn's Greenlight Capital and David Tepper's Appaloosa Management bought shares of Apple last year, as hedge funds generally flocked to the technology sector, Reuters reports.
Underscoring its relatively strong position in the turbulent information technology sector, I.B.M. reported yesterday that it earned $1.15 a diluted share in the three months ended June 30, an 8.4percentt increase from a year earlier and a gain that was right in line with Wall Street's projections.
Apple Computer dominated the headlines in the technology sector this week, reporting significant increases in fiscal third-quarter results.
In the technology sector, Intel and America Online, which reported earnings after the market closed, both handily beat estimates by analysts.
Stock prices rose modestly yesterday, led by the technology sector, after Nokia reported better-than-expected earnings and Dell Computer stood by its profit forecast.
Shares of Hewlett-Packard, which had been down sharply along with the rest of the technology sector, surged after the report before a circuit breaker paused trading in the shares following reports of the deal.
Of the nearly 100 I.P.O.'s in United States this year, 20 – a full fifth – have been in the high technology sector, according to the report.
