Technology stocks are narrowly higher with shares of technology
companies in the S&P 500 gaining 0.3%.
In company news, Fusion-io (
) is up more than 20%, climbing as high as $13.34 and away from
near 52 week lows after FBN Securities raised its rating for the
maker of storage memory platforms to Outperform from Sector Perform
with a $15 per share price target.
The research shop sees FIO as a potential takeover target,
suggesting Seagate Technology (
) as a potential suitor following a deal this morning by rival
Western Digital Corp (
) for privately held flash-storage company Virident Systems for
STX shares are up 2.5% at near $40.50 apiece this afternoon. WDC
is up 0.9% at near $65.60 a share.
In other sector news,
(+) GRPN, (+3.8%, has hit fresh 52 week highs) Daily-deals
company acquires last-minute travel company Blink for an
undisclosed sum, with the Blink app rebranded "Blink by
(-) HSOL, (-6.3%) Narrows Q2 net loss by $0.11 compared to the
year-ago levels to $0.32 per American depository share. Revenue
rises 7.5% year over year to $192.7 mln. Analyst estimates were not
available for comparison.
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