Updated from 12:20 p.m. EDT
Tech stocks moved higher Monday as broker moves lifted several stocks.
O.I.(OICO Quote) rose 10% after the technology products company said that it would buy up to 300,000 shares in a Dutch auction. The company plans to buy shares at prices ranging from $13 to $14.75 a share. Assuming that O.I. paid $14.75 a share, the company would need about $4.43 million to purchase all of the shares. Shares were up $1.25 to $13.75.
Elsewhere, Western Digital(WDC Quote) rose 2.2% after UBS upgraded the stock to buy from neutral. The firm said that Western Digital, which makes hard drives, should benefit from a seasonal increase in personal computers during the second half of the year. UBS also boosted its target price on the stock to $24 from $20 and lifted its earnings estimate for fiscal 2008 to $2.03 a share from $2 a share. Shares closed up 43 cents to $19.95. ...
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