Technology stocks are moderately lower this afternoon, with
shares of technology companies in the S&P 500 sliding about
In company news, Nuance Communications Inc (
) is up about 3% at $18.85 a share after billionaire investor Carl
Icahn increased his stake in the maker of speech-recognition
software to 16.9%.
Icahn also is considering putting up a slate of director
nominees for the NUAN board, explaining in a regulatory filing last
night that he and his affiliates have "determined that they may
engage in discussions with the issuer regarding the possibility of
the addition of persons satisfactory to the Reporting Persons to
the Board of Directors of the Issuer.'
The filing also states Icahn has now spent roughly $995 million
overall to acquire his 52.4 million shares and 16.9% stake, up from
a 9.3% interest first disclosed in April.
The NUAN board last week adopted a shareholders rights plan with
a 20% trigger in a frequent move by companies seeking to keep
would-be acquirers at bay.
In other sector news,
(+) CRM, (+12.8%) Q2 EPS of $0.09 beats by $0.02 while revenue
climbs 30.8% over year-ago quarter to $957 mln, topping estimates
by $18 mln. Guides Q3 earnings at least $0.01 per share above
Street, revenue in-line. FY14 EPS, revenue also match
(-) OVTI, (-15.2%) Q1 revenue climb 44.8% year over year to
$373.7 mln but misses by $2.7 mln. EPS of $0.55 beats by $0.12 per
share. Issues guidance in-line with analyst projections for $0.50
per share profit on $376.39 mln in revenue. Also, Oppenheimer