Sector Update: Technology Shares Mixed on New Government Data

11:28 AM Eastern Standard Time, 03/12/2010 (MidnightTrader) — Dow Jones U.S. Technology Index (DJUSTC): -0.97, (-0.16%), to 597.15

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Technology shares were mixed in morning trading as investors digested conflicting economic data released Friday.

The Dow Jones U.S. Technology Index was down 0.37, or 0.06%, to 597.75.

Led by a big gain in electronics, U.S. retail sales increased a seasonally adjusted 0.3% in February, despite three major snow storms in the East, the Commerce Department estimated Friday. Sales have risen in four of the past five months, and were up 3.9% compared with a year earlier.

Also Friday, consumer sentiment soured in March over the cloudy job market, according to a widely watched index, sending stocks south after an upbeat open.

In company news, Nokia (NOK) said it expects industry mobile device volumes to be up approximately 10% in 2010, compared to 2009. Nokia targets its mobile device volume market share to be flat in 2010, compared to 2009; and Nokia targets to increase its mobile device value market share slightly in 2010, compared to 2009.

Nokia shares were up $0.35, or 2.42%, to $14.84.

RF Micro (RFMD) is up after the stock was highlighted by Jim Cramer on his Mad Money show. Cramer suggested the stock has a lot of room to run. RF Micro shares, were up $0.20, or 4.23%, to $4.93.

Apple (AAPL) shares continued to delight as investors eagerly awaited the release of the new iPad tablet. The company has begun to take pre-orders for the product, which is set to go on sale April 3.

Apple shares were up 0.43%, or $0.97, to $226.47.