Tech Stocks Still Inching Higher; Fusion-io Surges After CEO Spends $1 Mln to Buy Stock


Top Tech Stocks

MSFT -0.76%

AAPL +0.65%

IBM +0.31%

CSCO +0.03%

GOOG -0.22%

Technology stocks are slightly higher with shares of technology companies in the S&P 500 gaining about 0.2%.

In company news, Fusion-io Inc.( FIO ) is up 15% at $10.97 a share, climbing as high as $11.22 today after two of the flash-memory company's top executives purchased nearly 160,000 shares of its stock late last week.

CEO Shane Robison Friday bought 105,500 shares at an average price of $9.52 each, according to regulatory documents released today, spending just over $1 million in the string of open-market purchases.

Also on Friday, Chief Operating Officer Lance Smith exercised options to purchase 21,668 shares at 65 cents apiece and then bought another 31,250 shares are $1.96 each. His cash outlay totaled just over $75,300 for nearly 53,000 shares.

Separately today, FIO announced new updates to its Fusion ION data accelerator all-flash shared storage systems, adding an additional flash-based memory tier for companies using Microsoft ( MSFT ) and Oracle ( ORCL ) SQL servers.

In other sector news,

(+) GOOG, EU regulators reportedly are giving the search-engine company's rivals four weeks to review its latest proposal to address anti-trust concerns.

(-) DGLY, Files suit against Utility Associates Inc. seeking to halt the rival company sending more letters to existing and prospective DGLY customers alleging third-party purchasers could be liable for patent infringement.

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

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

This article appears in: Investing , Commodities

Referenced Stocks: FIO , MSFT , ORCL

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