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Tech Stocks Higher This Afternoon; Neustar Tumbles After FCC Seen Tilting Toward Rival for LNPA Contract

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MSFT -0.51%

AAPL +1.49%

IBM +0.19%

CSCO +0.20%

GOOG +0.91%

Technology stocks were mostly higher, with shares of technology companies in the S&P 500 climbing about 0.4% in afternoon trade.

In company news, Neustar ( NSR ) shares fell Monday to a near 3-year low after the Federal Communications Commission briefly posted an email message on its docket recommending the agency award local number portability administrator duties to a NSR rival.

The confidential email recommending the commission award its next LNPA contract to Ericsson's ( ERIC ) iconectiv unit was sent April 28 to the FCC by an aide to the chair of the North American Numbering Council. According to NSR, the email was posted for a brief period late Friday on the FCC's online docket but was later changed to designate it as confidential and the link to the email was removed.

NSR executives said the move was troubling given the FCC's role in choosing the country's next LNPA, adding the process has been "marred" by several apparent leaks of confidential information and other procedural problems.

The company's shares recently were down about 7.7% at $24.62 apiece, earlier sinking just over 10% to $24.00 a share, matching its lowest share price since August 2011. Over the past 12 months, the stock is down about 49%.

ERIC shares were little changed this afternoon at $12.39 each, adding 1 cent.

In other sector news,

(+) HITT, (+28.7%) 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, (-7.5%) 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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