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Mellanox Pulls Back Off Best Levels But Remains Positive

After gapping open sharply higher, shares of Mellanox Technologies (MLNX) have given back some ground but remain positive in late-day trading on Friday. Mellanox is currently up by 1.5 percent after reaching its best intraday level in five years.

The initial jump by Mellanox came after the Israeli chipmaker reported better than expected fourth quarter results and provided upbeat guidance.

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