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Tech Stocks Turning Positive Late; Live Nation, Facebook Partnering on Concerts

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MSFT +1.30%

AAPL -0.12%

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GOOG -0.30%

Technology stocks turned slightly higher late Friday with shares of technology companies in the S&P 500 climbing about 0.1%.

In company news, Live Nation Entertainment ( LYV ) shares dipped Friday after the live events promoter announced a partnership with Facebook, including the launch of "Official Events" linking artists and their fans along with automatic ticket notifications.

LYV said it plans to import events to artists' Facebook pages, providing fans with direct links to purchase tickets. Mobile sites will display an artist's next four dates, with fans able to choose between joining or saving an event, receiving automatic notifications when tickets go on sale as well as links to authorized secondary ticket sellers.

Official Events currently are limited to live music concerts although LIVE said it expects to expand to sports, theatre and family entertainment in coming months.

LYV was down 1% at $23.77a share this afternoon, earlier advancing to a session high of $23.92. The stock has a 52-week range of $13.38 to $24.80 a share.

FB shares retreated today, falling 1.4% to $62.96 each prior to today's close.

In other sector news,

(+) OVTI, Q4 adjusted earnings of $0.40 per share beat by $0.13. Revenue declines 1.5% year over year to $331 mln but tops consensus by $38.89 mln. Projected Q4 EPS, revenue top Street by at least $0.14 per share and $54.47 mln, respectively.

(-) BLOX, CEO Robert Thomas quits after 5% revenue growth during Q3 to $61 mln lags estimates by $650,000. Q4 EPS, revenue guidance also trail Street view by at least $0.04 per share and $5.6 mln, respectively.

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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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