4 Tech Stock Stories Ready for a Tuesday Scan
Google Inc. (NASDAQ:GOOG): Closing price $886.11
Google has agreed to purchase the entire output of a 240-megawatt wind farm in Texas, marking its largest renewable-power buyout. Google will acquire the electricity from the Happy Hereford wind farm, which is outside of Amarillo, from developer Chermac Energy Corp. on its completion in late 2014, according to a Tuesday statement on its blog. Power will feed into the Southwest Power Pool regional grid and thence Google’s data center in Mayes County, Oklahoma. Details of the contract and financials were not disclosed.
Sohu.com Inc. (NASDAQ:SOHU): Closing price $67.76
Analyst Fei Fang at Goldman Sachs has upgraded Sohu from Neutral to Conviction Buy, along with a price target of $98. Fang believes that investments by the firm are paying off, explaining that, “We believe costly investments in video, search, and mobile assets are finally bearing fruit. The profit decline in 2012 drove share price underperformance vs. the sector. As the expanded product portfolio is now attracting competitive user traffic, and monetization is ramping meaningfully, we expect growing video and search revenues to soon offset their costs, and put overall profit back on the growth track.” However, shares closed down 2.66 percent on the day in heavy trading.
Westell Technologies, Inc. (NASDAQ:WSTL): Closing price $3.57
Westell, subsidiary Kentrox, Inc., announces the immediate availability of the communications management solution for enhanced site management. Subscribers are insisting upon reliable wireless coverage from virtually any place, but communications quality is often decreased in high usage/high demand areas. Understanding as to whether systems are running effectively and efficiently is critical, and the Kentrox communications management solution supplies the applications required to help service providers and tower operators manage their communications network without the necessity of a site visit and provide proactive warnings when problems may occur.
Juniper Networks Inc. (NYSE:JNPR): Closing price $21.42
On Tuesday, Juniper launched OpenContrail, a new initiative that allows the source code library for Juniper Networks Contrail to become available via an open source license. OpenContrail is an open source project committed to promoting innovation in software defined networking and aiding drive adoption of the cloud. The initiative is based upon proven and stable network protocols, providing developers the chance to innovate, adopt, and experiment with SDN tech that seamlessly joines with existing network infrastructures.
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