Sector Update: Technology

By Staff,

Shutterstock photo

Technology stocks are ending higher with shares of technology companies in the S&P 500 gaining more than 0.8% shortly before the closing bell.

In company news, Nokia ( NOK ) is up 4.1% in late trade to $3.84 a share, trading as high as $4.12 today after the Financial Times reported Huawei is exploring a possible buyout as part of its efforts to become the world's leading smartphone maker, according to the head of the Chinese telecom group's consumer business.

"We are considering these sorts of acquisitions; maybe the combination has some synergies but depends on the willingness of Nokia. We are open-minded," Richard Yu, chairman of Huawei's consumer business group, told the FT.

Separately, Reuters reported earlier that Siemens ( SI ) is seeking offers from private equity firms to buy its stake in its telecoms equipment joint venture Nokia Siemens Networks, three sources familiar with the discussions said.

In other sector news,

(+) RMBS, Narrows revenue guidance for the current quarter, now forecasting revenue in a range of $56 mln to $58 mln - raising the bottom of its prior guidance range by $3 mln. Analysts, on average, are looking for around $57 mln in Q2 revenue at the .

(-) CLWR, Majority owner Sprint Nextel ( S ) files suit in Delaware Chancery Court against the company and Dish Networks ( DISH ) seeking to block DISH' $4.40 per share tender offer. Today also is the deadline for DISH to raise its $25.5-bln bid to trump a $3.40-per-share offer by Softbank for the CLWR shares it already doesn't own.

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

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

This article appears in: Investing Commodities
Referenced Stocks: DISH , NOK , S , SI

More from MT Newswires


MT Newswires

MT Newswires

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by