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Technology Sector Update for 04/07/2015: INFA,MERU,MRCY

Top Tech Stocks

MSFT +0.71%

AAPL -0.34%

IBM +1.02%

CSCO +1.14%

GOOG +0.86%

Technology stocks were leading broader market gains, with the S&P Technology Index gaining about 0.5% this afternoon.

In company news, Informatica Corp ( INFA ) rose to a three-year high Tuesday after agreeing to a $5.3 billion leveraged buyout of the enterprise software company led by private equity firm Permira Funds and the Canada Pension Plan Investment Board.

Under terms of the transaction, the largest leveraged buyout so far this year in the United States, INFA shareholders will receive $48.75 for each of their shares in cash, a 6.4% premium over Monday's closing price for the stock.

INFA shares were up more than 4% at $47.77 apiece, earlier rising to their best price since April 2012 at $47.93 a share. Entering Tuesday's trading, the stock already had jumped more than 19% over the past year.

In other sector news,

(+) MERU, (+4.1%) Expects Q1 results will "slightly" exceed analyst estimates forecasting a $0.17 per share net loss and around $16.5 mln in sales. Restructures its sales organization, eliminating a layer of management by establishing geographic sales vice presidents reporting directly to CEO.

(-) MRCY, (-1.7%) Receives $6.9 mln order from unnamed defense prime contractor to develop high-performance OpenVPX digital signal-processing modules and supporting professional services.

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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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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