Top Tech Stocks
Technology stocks are narrowly higher with shares of technology
companies in the S&P 500 climbing about 0.1% this
In company news, Facebook (
) shares are up 4% at $48.38, hitting a day high of $48.46 on
speculation by UBS and other the social networking company is
poised to join the S&P 500 soon - perhaps as soon as
In a mid-day research note, UBS strategist Trista Rose said FB
would be a likely choice to replace Molex (
) in the closely watched market index, saying the announcement
could come as early as tonight.
MOLX will be forced out of the S&P 500 once its upcoming
merger with Koch Industries is complete. The electronics components
manufacturer this afternoon said it has now received all the
necessary regulatory clearances for the deal, which is now slated
to close on Monday, Dec. 9.
In other sector news,
(+) PLUG, Executives with the fuel-cell technology firm predict
it could turn a first-ever profit in 2014. Q4 sales are projected
between $30 million to $40 million.
(-) OVTI, Forecasts Q3 revenue of $310 mln to $340 mln, trailing
consensus by at least $60 mln. Guides EPS in-line. EPS of $0.60 per
share beats by $0.17 per share. Revenue rises 1.8% year over year
to $397.2 mln, topping estimates by $5.1 mln.
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