Top Tech Stocks
Technology stocks were narrowly higher in late trade Wednesday
with shares of technology companies in the S&P 500 climbing
In company news, Facebook (
) shares were off more than 2% late in Wednesday's session and the
social networking company this afternoon announcing a deal to
acquire online video company LiveRail for an undisclosed sum.
LiveRail is known in ad-tech circles as a "supply side"
platform, working with media companies such as A&E, Univision,
Major League Baseball and BET, to sell video ads programmatically.
According to FB, LiveRail's ambition is to become an integral part
of the online-video advertising business.
FB shares were down 2.4% at $66.41 each, giving back all of a
small gain earlier in the session. The stock has a 52-week range of
$24.15 to $72.59 a share, climbing almost 170% in value over the
past 12 months.
In other sector news,
(+) SFLY, The online photo company may be on the auction block,
recently hiring Qatalyst Partners to help find potential buyers,
sources tell Bloomberg News.
(-) CAMP, Outlook for Q2 adjusted EPS trails Street consensus by
at least $0.01 while projected revenue lags estimates by at least
$1.36 mln. Adjusted Q1 EPS of $0.19 beats by $0.01. Q1 Revenue rise
9.9% to $59 mln, tops analyst views by $960,000.
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