Sector Update: Slight Gains for Tech Sector Today; Advance Micro Sinks After Pacific Crest Cuts to Underperform

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Technology stocks were narrowly higher with shares of technology companies in the S&P 500 rising about 0.1%.

In company news, Advanced Micro Devices Inc. ( AMD ) fell Monday after the chipmaker was cut to to Underperform from Sector Perform by analysts at Pacific Crest.

Price target information was not available.

AMD shares were off 2.1% at $4.01 each, rebounding slightly from a session low of $3.90 a share. The stock has a 52-week range of $3.04 to $4.65 a share, climbing just 0.1% over the past year.

In other sector news,

(+) PLXT, Agrees to $309 million buyout offer, including assumed debt, from Avago Technologies ( AVGO ), which will pay $6.50 a share in an all-cash transaction.

(-) NVDA, Cut to Underperform at Pacific Crest, citing a glut of high-end desk-top GPUs.

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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This article appears in: Investing , Commodities
More Headlines for: AMD , AVGO


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