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Tech Stocks Ending Higher; ViaSat Expands WiFi Capabilities with Latest Acquisition

Top Tech Stocks

MSFT -0.65%

AAPL +1.66%

IBM -0.12%

CSCO -0.14%

GOOG +1.02%

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.

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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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