Technology stocks were mostly lower, with shares of technology
companies in the S&P 500 sinking about 0.6% as a group in
In company news, CalAmp Corp. (
) advanced Thursday after William Blair began coverage of the
mobile networking equipment company with an Outperform rating,
expecting the company to benefit from strong machine-to-machine and
mobile resource management growth.
No price target information was available.
CAMP shares were up more than 4% at $17.56 apiece this
afternoon, earlier reaching a session high of $17.74 a share. The
stock has traded within a 52-week range of $14.71 to $34.85 a
share, rising about 12.3% over that 12-month span.
In other sector news,
(+) MSFT, (+1.8%) Discloses plans to idle as many as 18,000
workers, with more than two-thirds of the layoffs coming from its
mobile handset business recently acquired from Nokia (
(-) SNDK, (-12.7%) Fiscal Q3 revenue outlook between $1.675 bln
to $1.725 bln trails analyst projections by at least $15 mln. Q2
EPS of $1.41 beats by $0.02 per share while its $1.63 bln in
revenue tops Street by $30 mln.
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