The US tech sector was raising share prices yesterday as the demand was increasing. Investors have noticed the unconvincing US data earlier yesterday which gave no reason for the Fed to cut back on stimulus. Therefore, the road is clear for analysts to make predictions.
EMC Corp. shares climbed 5.4% after a statement from the company that it will begin paying quarterly dividend of $0.10 a share. The would like to press on its stock repurchasing program targeting a $6 billion for the next three years.
Facebooks shares continued its weekly climb. Companys shares closed at 5.27% increase. Yesterday before market opened BMO Capital Markets analyst Daniel Salmon raised the social networks rating to “outperform” and changing its price target to 33$ from previously estimated 32$. Salmon stated for Wall Street Journal that “sentiment around Facebook advertising remains quite positive, with emphasis on improved customer service in particular”.
Dish Network Corp. raised its offer for Clearwire Corp.- the wireless network operator which stocks exploded with a 29.31% just for the day. While Dish Newtork and Sprint Nextel are bidding for Clearwires shares, both companys shares raised a little by 0.69% and 0.82% per share, respectfully.
Among the other leaders of tech stocks were Yahoo and Microsoft. Those tech sector gains contributed to Nasdaq Composite Index with almost 24 points resulting in a daily percentage climb of 0.69%.
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