Technology Sector Update for 09/12/2018: DOCU,TERP,CHKP,BB,BB.TO

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Top Tech Stocks

MSFT -0.13%

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GOOG -1.48%

Technology stocks were declining Wednesday, with the shares of tech stocks in the S&P 500 losing over 0.6% in value while the Philadelphia Semiconductor Index was plunging nearly 1.9%.

Among technology stocks moving on news:

(+) DocuSign ( DOCU ) was up 5% on Wednesday after cloud-based transaction products company disclosed plans for a $400 million private placement of convertible senior notes due 2023. The company also will provide the initial purchasers with an option to by up to $60 million more of the notes. Separately, the company also said it has it has begun a secondary offering of slightly more than 8.06 million shares of its common stock now held by Sigma Partners, General IM and other early investors in the company. The selling shareholders also are expected to provide underwriters with a 30-day option to buy up to 1.2 million additional shares.

In other sector news:

(+) TerraForm Power ( TERP ) at one point rose almost 6% on Wednesday after analysts at Goldman Sach raised their stock rating for the solar-power company to Neutral from Sell.

(+) Checkpoint Software ( CHKP ) was narrowly higher again, recovering from a slim decline in a see-saw session that followed the company and Canadian tech company Blackberry (BB,BB.TO) saying they are partnering to reduce cybersecurity threats. The global independent software vendor agreement is the first of its kind for Checkpoint and calls on the companies to combine Checkpoint's SandBlast mobile defense tools with Blackberry's UEM and Dynamics security applications.

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: DOCU , TERP , CHKP , BB

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