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MSFT +1.37%

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IBM +0.52%

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GOOG +3.75%

Technology stocks were firming again, with the shares of tech stocks in the S&P 500 adding nearly 1% in value while the Philadelphia Semiconductor Index also was rising almost 1%.

Among technology stocks moving on news:

(+) Amdocs ( DOX ) climbed nearly 13% after reporting adjusted Q2 net income of $1.06 per share on $1.02 billion in revenue during the three months ended March 31 compared with the Capital IQ consensus expecting a $1.03 per share non-GAAP profit for the communications and media software firm on $1.02 billion in revenue. It also raised its FY19 earnings forecast by 1.5 percentage points on each side, now expecting 4.5% to 8.5% growth over prior-year levels.

In other sector news:

(+) Advanced Energy Industries ( AEIS ) rose 10% after Susquehana raised its stock rating on the electronic components company to positive from neutral previously and also increased its price target on the company's shares by $37 to $82 apiece.

(-) Renren ( RENN ) was almost 1% lower, giving back a 5% gain at Wednesday's opening bell. The social networking company reported a 35.8% increase in revenue over the year-ago period, rising to $122.2 million, while its net loss for its fiscal Q4 widened to $0.08 per share from $0.03 per share last year. Analyst estimates were not available.

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