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Sector Update: Tech Stocks Climbing Off Session Lows; Allot Communication Lands 3 New Orders

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Technology stocks were declining Monday with shares of technology companies in the S&P 500 falling almost 0.7%.

In company news, Allot Communications ( ALLT ) shares were narrowly lower late Monday and the networking equipment manufacturer today announcing orders from three separate major data center and cloud providers around the globe.

According to the company, one order is from one of the largest data center providers in Latin America, which is installing an Allot Cloud Access Optimization system to support its cloud platform, web hosting solutions and data and application storage services.

The company also received an order from a European multinational IT services provider for Allot NetEnforcer, a purpose-built appliance for monitoring and managing data traffic. The final order was from a U.S.-based, multinational cloud provider.

ALLT shares were down about 0.6% at $11.78 shortly before the closing bell, trimming an earlier decline today as low as $11.53 s share. The stock has traded within a 52-week range of $10.12 to $18.09 per share, slipping almost 9% over the past 12 months prior to today's decline.

In other sector news,

(+) VIAS, Agrees to $368 million buyout offer from TTM Technologies ( TTMI ). Deal values VIAS at $16.46 per share, consisting of $11.33 in cash and 0.706 of a TTMI share for each VIAS share. TTMI also will assume $559 million in VIAS debt.

(-) CRDS, Files registration statement for a $12 mln proposed offering of Series H cumulative perpetual preferred stock with liquidation preference of $25 apiece along with warrants to purchase its common stock.

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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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