Tech Stocks Little Changed at Mid-Day; Digital Power Up Following Supply Deal For Israeli Military


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Technology stocks were little changed in mid-day trade with shares of technology companies in the S&P 500 down less than 0.1% today.

In company news, Digital Power Corp. ( DPW ) shares nearly doubled in value Wednesday, soaring to a 13-year high after the company was awarded a 5-year military contract to produce low-voltage DC/DC converters for Israel Aerospace Industries.

Israel Aerospace will use the converter modules to power its TAMAM Modular Azimuth Position System navigation system, which is used by the Israel Defense Forces in tactical warfare. According to the companies, the devices are designed for use in varied combat situations and are suitable for installation on a wide range of platforms, including self-propelled guns, artillery radars, rocket launchers, mortars and observation vehicles.

DPW shares were up 70.5% in recent trade at $2.64 each after earlier streaking to the best price since October 2000 at $3.05 a share, a 96.7% advance.

In other sector news,

(+) FSLR, (+13.1%) Discloses plans to develop a utility-scale photovoltaic power plant design with General Electric ( GE ), trumping weaker-than-expected FY14 EPS forecast after the solar energy firm sees new earnings, revenue growth in FY15.

(-) RBCN, (-7.2%) The Co-Investment 2000 Fund LP and Cross Atlantic Technology Fund II LP late Tuesday file to sell 2.0 mln of their 5.02 mln shares overall in an underwritten secondary offering. RBCN will not receive any proceeds from the deal.

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: DPW , GE

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