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Technology Sector Update for 10/02/2015: ATML,CAMP,WOWO

Top Tech Stocks

MSFT +2.15%

AAPL +0.73%

IBM +0.69%

CSCO +0.04%

GOOG +2.56%

Technology stocks hung on to solid gains this afternoon, with shares of technology companies in the S&P 500 jumping 1.2%.

In company news, Autobytel ( ABTL ) rallied Friday after the online automobile advertising company last night said it has acquired the remaining 85% equity stake in privately held AutoWeb it didn't already own in a $14 million, all-stock and warrant transaction.

The deal consists of 170,000 new shares of Autobytel's Series B junior participating convertible preferred stock along wotj warrants to buy up to 150,000 more shares of the Series B preferred stock. The company said it expects the deal to add to its earnings once it closes.

ABTL shares were up over 4% at $8.38 each, earlier reaching a session high of $8.43 a share.

In other sector news,

(+) CAMP, Adjusted Q2 EPS of $0.27 beats by $0.01 per share. Revenue rises 17.9% to $69.81 mln, topping $68.06 mln consensus. Guides Q3 earnings, revenue in-line. Narrows FY16 revenue guidance but still matches consensus.

(-) WOWO, Co-CEO Jianguang Wu tenders resigns, also giving up board seat, citing personal reasons.

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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