Top Tech Stocks
Technology stocks were solidly on positive ground Thursday, with shares of tech companies in the S&P 500 adding over 0.8% in value while the Philadelphia semiconductor index was posting a nearly 0.7% gain.
Among technology stocks moving on news:
+ Microsoft ( MSFT ) advanced Thursday, at one point rising over 1% to climb within 66 cents of its 52-week high of $102.69 a share, following reports it is developing a technology platform that would do away with cashiers and checkout lines at retail stores and putting it in direct competition with Amazon's ( AMZN ) automated grocery shop. The software and hardware giant already has demonstrated the technology to several international retailers and is now looking to collaborate with Walmart ( WMT ), people familiar with the matter told Reuters. It was not clear, however, how soon Microsoft would deploy its automated checkout service, if at all, with the company Thursday telling Reuters it "does not comment on rumors or market speculation."
In other sector news:
Asure Software ( ASUR ) retreated Thursday, falling as much as 7%, after the workplace management software firm priced a $35 million public offering of 2 million shares of its common stock at $17.50 apiece, or about 5.4% under Wednesday's closing price. iSystems Holdings sold another 500,000 Asure shares in a concurrent secondary offering, pocketing $8.75 million in gross proceeds. Asure also provided underwriters with a 30-day option to buy up to 375,000 shares to cover potential overallotments. After first paying underwriter discounts and other offering expenses, the company expects to use the net proceeds to acquire or invest in complementary businesses, assets or technologies.
- Cision ( CISN ) was more than 7% lower on Thursday after the public relations and media distribution software firm late Wednesday disclosed plans for a secondary offering of 12 million shares. The selling sharesholders - Canyon Partners Ltd along with board members Mark Fin and L Dyson Dryden - also issued a 30-day option to the underwriters to buy up to 1.8 million additional shares to cover potential over-allotments.