Top Tech Stocks
Technology stocks are higher in late trade this afternoon with
shares of technology companies in the S&P 500 rising 0.2%.
In company news, LTX-Credence (
) is up nearly 39% at $5.82, just pennies off its best levels of
the session after the company today said it would buy Dover Corp's
) Multitest and Everett Charles Technologies units for about $93.5
million in a deal expected to be "immediately accretive" to
The company, which makes automated test equipment for the
semiconductor industry, said it will pay $73.5 million in cash with
the remaining $20 million paid with a promissory note. The
acquisition will create a combined company with trailing 12-month
pro forma revenues of approximately $420.0 million, LTXC said.
LTXC shares are recovering from a 52-week low of $4.05 set on
Tuesday. DOV is up 0.4% at $87.85 in late trade, reversing initial
In other sector news,
(+) BLOX, Q4 EPS of $0.14 per share, ex items, tops estimates by
$0.05. Revenue climbs 39.9% from last year to $63.1 mln, also
beating Street view by $3.8 mln. Issues mixed guidance for Q1,
(-) SEAC, Q2 revenue rises 1.8% from same quarter last year to
$37.38 mln but still trails estimates by $1.02 mln. Adjusted EPS of
$0.10 beat by $0.02 per share. Reaffirms in-line FY14 EPS outlook
but guides FY14 revenue below consensus.
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