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Technology Sector Update for 07/02/2018: LINK,MTLS,VMW,DVMT,GOOG


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Top Tech Stocks

MSFT +1.14%

AAPL +1.02%

IBM +0.10%

CSCO -0.77%

GOOG +0.74%

Tech stocks were ending on positive ground Monday afternoon, reversing moderate declines earlier today. At last look, shares of tech companies in the S&P 500 Monday rose over 0.6% in late trade and the Philadelphia semiconductor index climbed just over 0.3%.

Among technology stocks moving on news:

+ Interlink Electronics ( LINK ) was higher late in Monday trading after the integrated circuits company said it has repurchased 867,681 shares of its common stock at $3.00 apiece, or over $2.6 million, overall, from Leonard Hagan and his affiliates. The per-share purchase price represents a 7% discount to Friday's closing price for the stock. Following the stock buyback, Interlink has just under 6.5 million shares outstanding, including around 1.05 million shares in its public float.

In other sector news:

+ VMware ( VMW ) has climbed over 10% at one point on Monday after Dell Technologies ( DVMT ) said it will buy out VMWare's tracking stock for $21.7 billion in cash and stock, with investors getting the choice of receiving 1.3665 of a new VMWare Class C share or $109 in cash - up to a total of $9 billion - for each Class V share they now own. The Class C stock will be listed on the New York Stock Exchange after the deal closes. Dell issued the Class V tracking shares after Dell completed its merger with EMC and holds an 81% economic stake in the software firm and almost all of its voting stock.

- Materialise NV ( MTLS ) slid as much as 2% on Monday after late Friday disclosing plans to raise up to $250 million through a mixed shelf registration that includes ordinary shares, American Depository Shares, preference shares and warrants, according to a regulatory filing by the software firm late Friday.

- Alphabet ( GOOG ) was edging lower Monday, paring a nearly 2% retreat that followed reports the technology conglomerate has invested in an electric scooter startup as part of a larger $300 million funding round that already included its Google Ventures affiliate. Google Ventures is said to be leading the funding rounds in Lime, but the Financial Times report did not specify how much Alphabet is investing in the funding round, although sources told the newspaper it matched Google Ventures' amount.

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: Technology , Commodities
Referenced Symbols: LINK , VMW , MTLS , GOOG




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