Technology stocks are higher this afternoon, with shares of
technology companies in the S&P 500 climbing nearly 0.7%.
In company news, Plug Power (
) continued its recent ascent, with shares surging another 49% at
one point after the fuel-cell manufacturer announced a deal to
develop fuel cell range extenders for 20 FedEx (
) Express electric delivery trucks.
Under terms of the $3-million project fueled by the U.S.
Department of Energy, PLUG will adapt its GenDrive Series 1000
product architecture to expand the range of the FedEx Express
trucks, nearly doubling the amount of territory the electric
vehicles can cover from a single charge.
The hybrid vehicles will be powered by lithium-ion batteries and
a 10-kilowatt Plug Power hydrogen fuel cell system.
PLUG shares recently were trading at $3.97 each, rising 43.3%,
after earlier climbing to $4.14 - marking the first time since
mid-May 2011 the stock had topped $4 a share.
In other sector news,
(+) PANW, (+4.1%) Acquires Morta Security, a Silicon
Valley-based cybersecurity company operating in stealth mode since
2012. Financial terms of the transaction were not disclosed.
(-) CYNI, (-27.7%) Said Windstream Corp, its largest customer,
cut orders by 88% from Q3 levels to just $2 mln in Q4. Now sees Q4
revenue of $20 mln to $21 mln, down as much as $12 from prior
forecast and now trailing analyst consensus by $10.1 mln.
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