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Tech Stocks Just Slightly Lower Ahead of Close; InterCloud Rallies After Inking $4.9 Mln Contract

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Technology stocks were slightly lower today, weighed down by large-cap sector companies Google ( GOOG ) and Apple ( AAPL ). Overall, shares of technology companies in the S&P 500 were down about 0.1% this afternoon.

In company news, InterCloud Systems ( ICLD ) was up about 4% in late Monday trade, with shares of the telecommunications and database services company announcing a $4.9 million project award to build a distributed antenna system project starting later this month in downtown Chicago.

ICLD did not identify the client but said the multi-phase project is expected to be completed before the end of 2014.

"This new contract award provides confirmation of the explosive growth of mobility and network expansion within both the enterprise and service provider markets," CEO Mark Munro said in prepared remarks. "We've positioned InterCloud as a leading single source provider of IT solutions and we're scaling the organization efficiently to meet what we believe is strong, growing demand.

The company's shares were up about 4% at $5.96 apiece in recent trading this afternoon, earlier climbing to a session high of $6.37 a share, up 11.1%. The stock has a 52-week range of $2.20 to $19.39 a share, giving up about a third of its former value over that span.

In other sector news,

(+) INUV, Retains compliance with NYSE listing standards for financial stability.

(-) NEON, Files to sell 5 mln shares of its common stock in an underwritten offering.

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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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