Technology stocks were mostly higher today with shares of technology companies in the S&P 500 climbing about 0.3% in afternoon trade.
In company news, ViaSat ( VSAT ) was moderately higher in late Monday trade after announcing a deal to expand its wi-fi capabilities with its purchase of privately held NetNearU for an undisclosed sum.
VSAT said the deal is expected to add to its non-GAAP FY15 earnings although it also said it has not yet completed its valuation analysis and cannot forecast its impact on GAAP earnings.
Shares were up 0.7% at $55.93 each, earlier climbing to a session high of $56.36 a share. The stock has a 52-week range of $53.03 to $74.78 a share, sinking about 21% over the past 12 months.
In other sector news,
(+) HITT, Agrees to $2 bln acquisition by Analog Devices ( ADI ), with HITT shareholders receiving $78 per share, a 29% premium over Friday's closing price. ADI said deal will add to non-GAAP per-share earnings, also reaffirms Q3 guidance.
(-) CNSI, Slides to all-time low after Q1 net loss widens to $16.1 mln, or $0.72 per share, from $3.1 mln loss last year. Misses Capital IQ consensus by $0.66 per share. Revenue declined 23.6% to $119.1 mln but beat estimates by $5.77 mln.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.