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.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

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

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