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Sector Update: Tech Stock Inching Higher In Late Trade; Weibo Rallies After T.H. Capital Start at Buy

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Technology stocks were slightly higher in late trade with shares of technology companies in the S&P 500 (^IXT) rising around 0.1%.

In company news, Weibo Corp ( WB ) jumped to a new high Thursday after the Chinese social media platform received a Buy rating and a $24 price target in new coverage today at T.H. Capital.

WB shares were ahead over 13% at $24.32 shortly before the closing bell, backing away from its highest levels since beginning public trading in April at $25.50 a share.

In other sector news,

(+) JDSU, Announces plans to split into two firms, with one company making optical components and commercial lasers and the other making instruments and software for optical communications networks. Also, RBC Capital Markets upgrade to Outperform.

(-) EOPN, Trims expected FY14 revenue by $6 mln from its prior outlook to a new range of $83 mln to $85.5 mln, still trailing analyst estimates by at least $4.1 mln. Lowers expected Q2 loss and raises projected revenue, both topping Street view.

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

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

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