Top Tech Stocks
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.
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