Tech Stocks Closing Near Session Highs; Ruckus Making Noise After Stifel Starts Coverage With Buy Call

By Staff,

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Technology stocks are ending broadly higher today with shares of technology companies in the S&P 500 adding over 0.8% as a group.

In company news, Ruckus Wireless Inc. ( RKUS ) is holding on to a 4.6% advance shortly before the closing bell, with shares now fetching $13.23 each after analysts at Stifel Nicolaus initiated coverage of the wi-fi services carrier with a Buy rating.

The research shop also set a $17 per share price target for the stock.

In other sector news,

(+) CRDS, Data-archival company files suit against Dell Inc, Tandberg Data Corp and Huawei Technologies Co. Ltd alleging they are infringing on three of the company's patented technologies.

(-) GAME, Chinese online gaming company posts EPS of $0.26, topping estimates by $0.02 per share. Revenue rises 7.3% year over year to $182.9 mln, roughly in-line with estimates. Massively multiplayer online games make up 85.3% of revenue.

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

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

This article appears in: Investing Commodities
Referenced Stocks: RKUS

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