Tech Sector Resisting Steepest Declines; Stratasys Rising After $403-Mln Deal For MakerBot

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Top Tech Stocks

MSFT -2%

AAPL -0.7%

IBM -1.2%

CSCO -1.15%

GOOG -0.7%

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. ( SSYS ) 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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This article appears in: Investing , Commodities

Referenced Stocks: SSYS

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