Top Tech Stocks
Technology stocks were slightly lower, with shares of technology companies in the S&P 500 declining 0.1% this afternoon.
In company news, Renren ( RENN ) American depository shares were narrowly lower this afternoon, reversing earlier gains after a group of private investors called for external financial and legal advisors to evaluate a July 24 going-private offer, arguing the current offer undervalues the Chinese online advertising platform by roughly 40%.
The investor group said Renren is worth as much as $6.72 per ADS compared with the $4.20-per-share offer by Board Chairman and CEO Joseph Chen, writing they "believe further upside remain above."
RENN ADS were down 0.5% at $3.05 apiece in late trade, earlier climbing as high as $3.11 per ADS.
In other sector news,
(+) JBL, Posts Q4 EPS of $0.53 tops Street view by $0.9per share. Revenue grew 15.4% to $4.68 bln, beating $4.55 bln consensus. Projected Q1 earnings of $0.72 to $0.88 per share at least $0.13 above estimates. Revenue outlook also beats expectations.
(-) SYRX, Prices 5.25 mln shares of its common stock at $1 apiece, a 60% discount to Thursday's closing price for the company's stock.
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