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Technology Sector Update for 09/14/2018: DOCU,AMD,LPL,AAPL


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Top Tech Stocks

MSFT +0.23%

AAPL -1.07%

IBM -0.59%

CSCO +0.05%

GOOG -0.27%

Technology stocks were softer in recent trading, with the shares of tech stocks in the S&P 500 losing almost 0.4% in value despite a nearly 0.7% increase in the Philadelphia Semiconductor Index Thursday afternoon.

Among technology stocks moving on news:

(+) DocuSign ( DOCU ) dropped nearly 3% on Friday after the electronic signature technology company priced an upsized $500 million private placement of 0.50% convertible senior notes due 2023. The offering was increased in size from the company's original plan to sell $400 million of the notes, which will carry an initial conversion rate of about $71.42 per share, representing a premium of almost 30% over Thursday's closing price for the company's common stock. Net proceeds will help fund the cost of capped call transactions and general corporate purposes, including potential future acquisitions.

In other sector news:

(+) Advanced Micro Devices ( AMD ) was nearly 7% higher in afternoon trading after analysts at Argus raised their price target for the chipmaker by $17 - or 73.9% - to $40 a share. The brokerage also reiterated its buy investment recommendation for the company's stock.

(+) LG Display ( LPL ) was hanging on to a nearly 2% gain Friday afternoon, easing from a nearly 9% advance earlier in the session that followed the Korean electronics company saying it was selected by Apple ( AAPL ) as its second supplier of organic light-emitting diodes.

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 , AMD , LPL , AAPL



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