Top Tech Stocks
Technology stocks are lower in afternoon trade with shares of
technology companies in the S&P 500 slipping about 1.2%.
In company news, Stratasys Ltd. (
) is up 2.3% to $86.50 a share, earlier topping out at $87.99 today
after announcing a deal to acquire upstart MakerBot Industries LLC
for about $403 mln in stock, based on SSYS' $84.60-a-share closing
price last night.
MakerBot will operate as a separate subsidiary within SSYS,
maintaining its own identity, products and market strategy.
MakerBot stakeholders also will qualify for performance-based
earn-outs providing for up to 2.38 mln additional shares through
the end of 2014. SSYS said the deal will be slightly dilutive to
non-GAAP earnings per share this year and accretive to the
company's non-GAAP EPS by the end of 2014.
In other sector news,
(+) FNSR, (+11.9%) Reports Q4 earnings of $0.20 per share,
excluding non-recurring items, beating the analyst consensus
by$0.03. Revenue rises 2.1% from same quarter last year to $243.4
mln, also topping expectations by around $800,000.
(-) FB, (-1.1%) Reportedly will will unveil a video-sharing app
during a presentation today. According to the Wall Street Journal,
the service has been under development for several months and will
allow users to create and share brief video clips.
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