Tech Stocks Inching Higher This Afternoon; Red Hat Dips Despite Expanded Partnership with Hortonworks


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Technology stocks were slightly higher, with shares of technology companies in the S&P 500 gaining around 0.2%.

In company news, Red Hat Inc. ( RHT ) slid Monday although it and Hortonworks expanded their strategic alliance, including the integration of their product lines.

The new partnership also includes linking the Hortonworks data platform with RHT's enterprise storage tools, with customers of the beta project receiving support directly from the two companies rather from the open-source community.

RHT shares were off about 1% at $56.44 each in recent trade, rebounding from an earlier slide to $56.00 a share. The stock has a 52-week range of $41.89 to $60.19 a share.

In other sector news,

(+) PLUG, (+17.3%) Receives significant contract from an unidentified retailer to install its hydrogen fuel-cell systems at six distribution centers in North America over the next two years. The first site is expected to be operational by Q2.

(-) MTSN, (-7.3%) Announces plans for an underwritten public offering of a yet-to-be-determined number of shares of its common stock. The deal is expected to price after the market close.

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

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