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BREAKING- Mellanox Spikes Higher on Consortium Announcement (MLNX)

Shares of Mellanox Technologies (NASDAQ: MLNX) were down sharply but have spiked higher on news that it, along with IBM (NYSE: IBM), NVIDIA, and Google (NASDAQ: GOOG) have formed a consortium to build servers and storage technology, according to a WSJ report.

Volume on the stock is light, despite the rumored collaboration. The stock has traded 245,000 shares versus the average of 686,000.

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Mellanox Technologies, Ltd., a fabless semiconductor company, produces and supplies semiconductor interconnect products for computing, storage, and communications applications in the high-performance computing, Web 2.0, storage, financial services, database, cloud, and embedded markets.

[stock-tools exchange="NASDAQ" symbol="MLNX" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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