Technology stocks were posting strong gains Tuesday with shares
of technology companies in the S&P 500 advancing nearly 1.2%
In company news, Ocean Power Tech (
) shares were moderately higher in late trade after the company
said it received a $4.62 million initial grant funding from the
Australian Renewable Energy Agency.
The money is earmarked for Victorian Wave Partners, OPTT's
88%-owned subsidiary, and will help finance construction of a
planned wave-power station project off the coast of Australia. The
grant also requires OPTT to raise outside funding as well as
meeting certain performance milestones.
OPTT shares were up 2.4% at $3.82 each, earlier climbing to a
session high of $3.94 a share. The stock has a 52-week range of
$1.46 to $7.01 a share.
In other sector news,
(+) VRNT, Q4 EPS of $0.91 beats by $0.07 per share with in-line
revenue of $257 mln. FY15 revenue forecast tops Street view by at
least $40 mln while earnings outlook exceeds estimates by $0.12 per
share or more.
(-) CUI, Reports 2013 net loss of $1.8 mln, or $0.10 per share,
topping its year-ago loss of $0.25 but extending its current losing
streak to a third year. Revenue for the 12 months ended Dec. 31
rose 48% over the prior year to $60.7 mln.
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