Top Tech Stocks

MSFT -0.94%

AAPL -0.54%

IBM -0.63%

CSCO +0.90%

GOOG +0.13%

Technology stocks narrowed some of their mid-day losses this afternoon, with the shares of tech stocks in the S&P 500 falling almost 0.8% in late trade while the Philadelphia Semiconductor Index was dropping nearly 1.5%.

Among technology stocks moving on news:

(-) DouYu International (DOYU) fell over 5% on Wednesday after HSBC began analyst coverage of the mobile gaming platform company with a hold investment rating and an $11 price target.

In other sector news:

(+) Tech Data (TECD) climbed nearly 12% following a Reuters report, citing people familiar with the matter, that Apollo Global Management (APO) is preparing to offer around $130 per share – or nearly $5 billion overall – to buy out the IT products and services company.

(+) Comtech Telecommunications (CMTL) was narrowly higher after the networking equipment company Wednesday said its PST Corp subsidiary has received $7 million in new orders from a domestic prime contractor for its high-power radio frequency amplifiers.

(-) Micron Technology (MU) declined nearly 3% on Wednesday after a regulatory filing showed board member Patrick Byrne late last week sold 23,264 shares of the chipmaker’s stock, reducing his overall stake to 97,739 shares.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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