Technology Sector Update for 10/05/2015: SUNE,WAVX,FEYE
Top Tech Stocks
Technology stocks were higher today, with shares of technology companies in the S&P 500 jumping nearly 1.6%.
In company news, SunEdison ( SUNE ) shares advanced Monday after the photovoltaic-panels company today announced new several proposals intended to better align its business operations with current and future market opportunities as well as accelerating its positive cash flow.
In particular, SunEdison said it expects to focus on its high profit-potential markets such as India, China and Latin America in addition to the United States. The company also is planning to eliminate duplicative activities that have arose following recent acquisitions.
CEO Ahmad Chatila and Brian Wuebbels, chief financial officer at SunEdison are scheduled to discuss the upcoming initiatives during a conference call with analysts and investors on Wednesday, Oct. 7, beginning at 8:00 am ET.
SUNE shares were up nearly 7% at $8.84 each, earlier climbing to a session high of $9.34 a share.
In other sector news,
(+) WAVX, (+11.8%) Sign three-year, royalty-bearing software license and distribution agreement with Silicon Application Corpl Group.
(-) FEYE, (-4.4%) Reduced to Neutral from Overweight in a downgrade today at Piper Jaffray.
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