Technology shares are mixed in the pre-market session. GenCorp (GY) said Q2 sales were $183 million, down from a year ago. EPS rose to $0.18.

BofA/Merrill upgraded Intel (INTC) to Buy from Neutral. In addition, Merrill upgraded Marvell Technology (MRVL) to Buy from Neutral, LSI (LSI) to Buy from Underperform and Maxim Integrated Products (MXIM) and National Semiconductor (NSM) to Neutral from Underperform. The brokerage sees 21% revenue growth in the semiconductor industry in 2010 vs. an earlier forecast of 14% growth and the Street's estimate of 9%, on an improving trajectory of electronic demand against a backdrop of still lean supply chain inventories. On Intel specifically, the broker sees upside to gross margins given a recovery in enterprise, the launch of Windows 7, a PC upgrade cycle and success in expanding to handsets, consumer or embedded.

Boeing (BA) will buy Vought Aircraft Industries and its South Carolina facility, where Vought builds a key structure for Boeing's 787 Dreamliner airplane. The cash consideration to be paid to Vought at closing is about $580 million.

Jefferies started new coverage on 3M (MMM) with a Buy rating and a $76 price target. It cited the potential for operating leverage in its industrial business, a modest recovery in the consumer markets and improving cash generation, according to Marketwatch.com.

Arotech (ARTX) has won $3 mln in battery and charger orders.

Suntech Power Holdings' (STP) COO resigned on Friday. The company's VP of manufacturing technology and quality and its CEO will share COO duties in the interim.

SAIC (SAI) has won a $13 mln contract to support the Department of Defense's advanced research projects' machine-reading program.

Digital Ally (DGLY) sees Q2 revenue at about $7 mln. The company added it should return to profitability in Q2.

Jefferies raised its price target on Brocade Communications Systems (BRCD) to $9 per share.