Sector Update: Technology Shares Higher Pre-Bell; Gilat Satellite Networks Up 3% on Supply Agreement


Top Technology Stocks:

MSFT: +0.30%

AAPL: +0.92%

IBM: +0.46%

CSCO: +0.33%

GOOG: +0.24%

Technology shares are higher in pre-bell trading, while Gilat Satellite Networks Ltd. ( GILT ), a satellite networking technology and services company, said it has received a letter of award for a project worth more than $12 million for equipment and services from Entel S.A., the largest telecom and satellite network operator in Bolivia.

Gilat will supply Entel with a SkyEdge II VSAT platform, including HUB and VSATs, Teleport, DTH and solar solutions. The project also includes professional services for the central site installation, project management and training.

GILT is up 3% at $4.89.

And, ADTRAN, Inc. ( ADTN ), provider of products and services for communications networks, is down 1% after it reported Q3 2014 non-GAAP EPS of $0.32, on sales of $177.4 million. Analysts on Capital IQ had expected EPS of $0.25 and sales of $175 million. Year-ago non-GAAP EPS was $0.20, on sales of $162.1 million.

The company's Board of Directors declared a cash dividend for the quarter of $0.09 per common share, payable on November 7, 2013 to shareholders of record at the close of business on October 24, 2013. The ex-dividend date is October 22, 2013.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: ADTN , GILT

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