Sector Update: Technology

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Technology stocks are higher today with shares of technology companies in the S&P 500 advancing about 0.7%.

In company news, SolarCity ( SCTY ) is ahead over 25% at $48.03 a share, just 10 cents off its session high after confirming guidance it expects to deploy between 475 megawatts to 525 megawatts of solar panels during 2014.

SCTY also said it still expects to deploy around 278 megawatts this year after installing around 78 megawatts of panels during Q3.

In other sector news,

(+) OCLR, Sells its fiber amplifier and micro-optics business to II-VI ( IIVI ) for $88.6 mln. IIVI expects the deal to be accretive to EPS in FY15. OCLR chief financial officer Jerry Turin also leaving the company, effective Nov. 8.

(-) SGI, Cuts Q1 EPS outlook to $0.02 to $0.04 from $0.07 to $0.14. Also sees $147 mln in revenue, down from $160 mln to $170 mln. Street is at $0.09 per share on $165.5 mln in revenue. Said government shutdown could reduce FY14 revenue by up to 10%.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: IIVI , SCTY

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