Top Tech Stocks
Technology stocks are higher with shares of technology companies
in the S&P 500 rising about 0.7%.
In company news, Expedia Inc (
) is up nearly 6% in late trade at $49.21 a share, rising as high
as $51.31 today after the travel-reservations website announced a
strategic marketing agreement with its longtime rival
Under terms of the exclusive, long-term strategic marketing
agreement, EXPE will power the technology platforms for
Travelocity's existing websites in the U.S. and Canada while
providing Travelocity access to its supply and customer
Travelocity will remain wholly-owned by Sabre Holdings Corp,
independent of EXPE. The deal also does not include Travelocity's
partner network or its lastminute.com website in Europe. Both firm
were beginning development on the marketing pact immediately, with
a launch planned sometime during 2014.
In other sector news,
(+) MSFT, CEO Steve Ballmer announces plans to retire within the
next 12 months once a successor is identified and hired.
(-) P, Expects to earn between $0.03 to $0.06 per share, ex
items, in Q3, lags Thomson Reuters consensus by at least $0.02.
Issues in-line EPS guidance for 12 months ending in January. Q2 EPS
of $0.04, ex items, on 55% rise in revenue both top estimates.
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