Most of our 330's are equipped with a GPS type tracking system that feeds real time accurate position and flight information (Heading/Altitude/Speed) back to the company.
I cannot guarantee it works over the Atlantic but I would be amazed if it doesn't. Surely AF would have extremely accurate position reports fed back continuously.
We can hold out hope that a miracle is possible, just like in NYC. They could very well be sitting in life rafts. I hope the SAR mission was initiated at the earliest indication of trouble.
Here's hoping.....