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


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.

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.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: SSYS

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