Top Tech Stocks
Technology stocks were little changed this afternoon, with
shares of technology companies in the S&P 500 slipping less
In company news, SolarCity (
) shares rose Wednesday after the solar-energy company announced a
new revenue-sharing partnership with Best Buy Corp (
), placing its sales representatives inside the stores to market
SCTY's at-home electricity generation systems.
The partnership began last September at a handful of BBY stores
and will now expand to around 60 locations in Arizona, California,
Hawaii, New York and Oregon.
SCTY typically offers 20-year leases to home and business
owners, saving homeowners the usual upfront costs for solar-energy
equipment and installation. As an added incentive, SCTY will give
$100 BBY gift cards to new customers signing up for a lease prior
to April 22 (Earth Day).
SCTY shares were up 6.9% at $78.43 apiece in recent trading,
holding within 7 cents of its intra-day high. The stock has a
52-week range of $16.18 to $88.35 a share. BBY shares were down 1%
at $25.71 each.
In other sector news,
(+) INFN, (+14.2%) Raised to Buy from Neutral at Goldman Sachs,
which contends consensus opinion "is underestimating the revenue
growth potential associated with customer upgrades." Price target
left unchanged at $11.50 a share.
(-) MX, (-10.3%) The company's audit committee determines the
chip-maker incorrectly recognized revenue on certain transactions
dating back to its annual reports for 2011 and 2012 as well as
quarterly results through the first nine months of 2013.
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