Tech Shares Little Changed Late; DragonWave Slain on Upcoming Plan to Sell Equity Units

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Technology stocks are little changed in afternoon trade with shares of technology companies in the S&P 500 slipping less than 0.1% near the closing bell.

In company news, DragonWave Inc. ( DRWI ) is down 11% at $2.44 in late Friday trade after saying it plans to sell a yet-to-be-determined number of equity units in a proposed underwritten public offering.

Each unit will consist of one share of common stock and one-half of a warrant to purchase another share, also at an undetermined price.

The supplier of packet microwave radio systems for mobile and access networks late yesterday said it was expecting to price the offering shortly before the start of trading today although there has been no formal word of the deal issued yet today.

In other sector news,

(+) NQ, Climbs to new 52-week high after launching Music Radar, a new application for content-based music information retrieval, through its Yinlong subsidiary in China.

(-) SSYS, Prices 4.5 mln shares of its common stock at $93.00 apiece.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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