Markets

Technology Sector Update for 12/15/2015: APDN,UTSI,FCEL

Top Tech Stocks

MSFT +0.43%

AAPL -0.81%

IBM +1.67%

CSCO +1.93%

GOOG -0.14%

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.

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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