Technology sector ended its Wednesday trade, faintly elevated, with shares of technology companies in the S&P 500 mountaineering 0.1%. In an afternoon trade late Wednesday, Technology & Communications stocks are the best performing sector.
Following the Technology Sector Trend, few tech companies such as Oclaro, (OCLR), Entropic Communications, (ENTR), Merge Healthcare, (MRGE), Cognizant Technology, (CTSH), Glu Mobile, (GLUU), also jumped. Details are given below:
Top Mover: Oclaro, Inc. (NASDAQ:OCLR), skyrocketed 14.97% to close at $1.69, soon after a leading provider and innovator of optical communications solutions, declared the financial results for its second quarter of fiscal year 2015, which ended December 27, 2014. Proceeds were $86.8 million for the second quarter of fiscal 2015, contrast with proceeds of $89.2 million in the first quarter of fiscal 2015. The Company’s industrial and consumer business, which was sold on October 27, 2014, contributed $1.8 million of proceed in the second quarter and $7.5 million in the first quarter of fiscal 2015.
Oclaro, Inc. (NASDAQ:OCLR), is a leader in optical components, modules and subsystems for the core optical, enterprise and data center markets. Leveraging more than three decades of laser technology innovation, photonics integration, and subsystem design, Oclaro’s solutions are at the heart of the fast optical networks and high-speed interconnects driving the next wave of streaming video, cloud computing, voice over IP and other bandwidth-intensive and high-speed applications.
Shares of Entropic Communications, Inc. (NASDAQ:ENTR), inclined nearly 13.33% and closed at $3.06 in Thursday’s pre-market activity moving within a 52-week trading range of $2.15 - $4.80, as a world leader in semiconductor solutions for the connected home, recently stated its fourth quarter and fiscal year results for the period ended December 31, 2014. Also recently, Entropic and Maxlinear, Inc. (MXL) declared that they have reached a definitive contract following which Maxlinear will attain Entropic in a combined stock and cash transaction valued at $287 million, based on MaxLinear’s closing stock price on February 2, 2015. Please refer to a joint press release offered by the parties recently for additional details regarding the transaction.
Entropic Communications, Inc. (NASDAQ:ENTR), is a world leader in semiconductor solutions for the connected home. The Company transforms how traditional HDTV broadcast and IP-based streaming video content is seamlessly, reliably, and securely delivered, processed, and distributed into and throughout the home.
Merge Healthcare Incorporated (NASDAQ:MRGE), surged sharply 11.44% to close at $4.19, holding the market capitalization of $401.97M. The company has 52-week range of $1.97 - $4.22. Its intraday range is $3.77 - $4.22.
A leading provider of clinical systems and innovations that seek to transform healthcare, formerly declared that Merge Cardio(TM) has been named Best in KLAS for the cardiology software category within the “2014 Best in KLAS: Software & Services” report. In addition, Merge Hemo(TM) has been named the KLAS Category Leader in Cardiology Hemodynamics. This marks the second and fourth successive wins for Merge Cardio and Merge Hemo, respectively.
Merge Healthcare Incorporated (NASDAQ:MRGE), is a leading provider of innovative enterprise imaging, interoperability and clinical systems that seek to advance healthcare. Merge’s enterprise and cloud-based technologies for image intensive specialties offer access to any image, anywhere, any time.
Shares of the Cognizant Technology Solutions Corporation (NASDAQ:CTSH), soared 5.05% & closed at $57.88, soon after a leading provider of information technology, consulting, and business process outsourcing services, recently declared its fourth quarter and full year 2014 financial results. Quarterly proceed rose to $2.74 billion, up 16.4% from the year-ago quarter and 6.2% sequentially. Not including the fourth quarter proceed from the attainment of TriZetto, quarterly proceed was up 13.0% from the year-ago quarter and 3.1% sequentially.
The company in the very recent session today declared that it has been named a “market leader” in the recently released Ovum Decision Matrix: Selecting an Outsourced Testing Service provider 2014-15, which focuses on the growing market for service providers offering comprehensive outsourced testing of software applications. The report, which analyzed the top 15 global service providers for testing services, assessed a variety of criteria counting offerings, execution and market influence.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH), is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to assisting the world’s leading companies build stronger businesses.
Glu Mobile, Inc. (NASDAQ:GLUU), gained 6.37% to close at $3.84, soon after the news that a leading global developer and publisher of free-to-play games for smartphone and tablet devices, recently declared the company will partner with Katy Perry on the development of a new mobile game. Featuring Katy`s voice, likeness, and personality, the game will introduce players to a digital playground of global success and talent. Glu anticipates to launch the game worldwide in late 2015 on iOS and Android.
Founded in 2001, Glu Mobile, Inc. (NASDAQ:GLUU), is headquartered in San Francisco with major U.S. offices outside of Seattle and in Long Beach, and international locations in Canada, China, India, Japan, Korea, and Russia. Glu Mobile (GLUU) is a leading global developer and publisher of free-to-play games for smartphone and tablet devices.
