Top Tech Stocks
Technology stocks continued to build on modest gains this afternoon, aided by an outsized gain for Apple ( AAPL ) today following an upgrade for the tech giant to Overweight from Sector Weight at Pacific Crest, which also set a $187 price target for the stock. Overall, shares of tech companies in the S&P 500 climbed slightly more than 0.1%.
In company news, AudioCodes ( AUDC ) rose to its best share price in more than three years, with shares of the voice and data networking equipment manufacturer climbing over 8% to their highest level since February 2014 at $7.95 apiece, after British telecom BT Group ( BT ) selected AudioCodes’ Mediant session border controllers to “simply and rapidly” connect business customers to the BT network.
AudioCodes’ controllers support both traditional telephony interfaces and comprehensive session initiation protocol on the same device, allowing BT to deploy the the same model at almost any location, regardless of the customer’s existing on-site equipment, simplifying its training and support processes.
Financial details of the new contract were not disclosed.
In other sector news,
(+) CCUR, Sells its content delivery & storage business to Canada-based Vecima Networks (VCM.TO) for about $29 mln. Also Stifel lowers stock rating to Hold from Buy and trims price target by $14 to $43 a share.
(-) MTSI, Reduced to Hold from Buy in a downgrade today at Stifel Nicolaus.
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