Top Tech Stocks
Technology stocks are higher, with shares of technology
companies in the S&P 500 rising about 0.2%.
In company news, Zillow (
) is down nearly 5% at $86.76 a share, sliding as low as $85.39
after disclosing plans for an underwritten public offering of 5
million shares, with the company selling 2.5 million shares of its
Class A common stock pursuant to a shelf registration
An additional 1.5 million shares will be offered by Technology
Crossover Ventures, a venture capital firm and an early investor in
the online real-estate information and marketing website. Other
sellers include Rich Barton, the company's former CEO and currently
its executive board chairman. Z expects to issue 30-day options to
underwriters to purchase up to 753,522 additional shares.
The company today also said it was acquiring StreetEasy, a New
York-based real estate website for $50 million in cash. StreetEasy
attracts nearly 1.2 million monthly unique users, primarily home
and cooperative shoppers in Manhattan and the other four NYC
In other sector news,
(+) EFUT, (+54.4%) Inks deal with Rainbow Department Stores,
supplying software to the Chinese retailer facilitating easy access
between sales clerks and customers.
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