Sector Update: Technology


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Technology shares were generally lower in pre-market trading on Monday.

In technology stocks news, Microchip Technology ( MCHP ) said it has agreed to buy Supertex ( SUPX ) for $33 per share or a total equity value of $394 million. The enterprise value of the deal is $245 million after excluding Supertex's cash and investments on its balance sheet of approximately $148 million.

MCHP closed higher by 1.7% on Friday. SUPX jumped 36% to $33.25 after having been halted in pre-market trade.

And, SouFun Holdings ( SFUN ) was up 7% pre-market after it reported Q4 revenue of $217.2 million, up 47% from a year prior, and non-GAAP net income of $1.42 per share, up 80% from a year prior.

The Street consensus was for $203 million in earnings and $1.10 per share in earnings, according to Capital IQ estimates.

Finally, online media company Inc. ( SOHU ) slumped 7.7% in the pre-market session after reporting Q4 2013 revenues and Q1 2014 financial guidance that were below Wall Street expectations. Profit for Q4, however, was above estimates.

It said Q4 non-GAAP profit was US$5 million, or US$0.12 per diluted share, versus the Capital IQ consensus of US$(0.40). Year-ago non-GAAP profit was US$28 million.

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: MCHP , SUPX , SFUN , SOHU

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