Technology Sector Update for 10/02/2015: ATML,CAMP,WOWO
Top Tech Stocks
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.
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