Top Tech Stocks
Technology stocks were climbing Tuesday, with shares of tech companies in the S&P 500 advancing around 1.0% in afternoon trading.
In company news, Applied DNA Sciences ( APDN ) rallied Tuesday after the supply chain security and brand protection firm reported a smaller fiscal Q4 net loss than analysts were expecting as revenue grew more than five times over year-ago levels, also beating analyst opinion.
The company recorded a $0.02 per share net loss during the three months ended September 30, improving on a $0.15 per share loss during the same quarter last year and beating the Capital IQ consensus by $0.07 per share. Revenue jumped 517.1% from last year to $3.98 million, exceeding the Street view by around $1.92 million.
APDN shares were up more than 8% at $3.91 apiece, earlier topping out at $4.25 a share.
In other sector news,
(+) UTSI, (+12.3%) Shanghai Phicomm Communication discloses 31.7% active stake, spending over $70.4 mln to acquire 11.7 mln shares and saying it plans to explore possible synergies between the companies.
(-) FCEL, (-6.6%) Announces $30 mln project financing facility with PNC Energy Capital, providing long-term financing for projects the company is developing under various power purchase agreements.
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