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Market News: Activision Blizzard, Cognizant Technology, First Solar

The stock markets in the United States rebounded today after suffering losses over the past several days. The market gains were driven by earnings in the technology sector that exceeded Wall Street expectations. The equity markets also benefited from the service-industry data indicating a faster economic growth.

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Commenting in the market trends, John Manlet, chief equity strategist at Wells Fargo & Co (NYSE:WFC) Fund Management told Bloomberg, “The market has been under a little bit of pressure looking for a reason to go back up. The market is moving in the right direction. A slow, steady recovery is probably a good thing. The single most important factor affecting stock markets is what the Fed is doing.”

The U.S. service industry from real estate agencies to restaurants expanded in July. The Institute for Supply Management reported that its non-manufacturing index increased 4.3% to 60.3%, the strongest growth since August 2005.

Brian Jones, a senior U.S...