Top Tech Stocks
Technology stocks were unable to carry their early gains into Thursday's close, with the shares of tech stocks in the S&P 500 shedding nearly 0.7% in value while the Philadelphia Semiconductor Index also slipped almost 0.7%.
Among technology stocks moving on news:
(-) Livent ( LTHM ) struggled Thursday in its public market debut, falling as much as 6% after the company looking to feed the lithium rechargable battery industry with its primary ingredient priced its initial public offering of stock at $17 a share, lagging the expected $18-to-$20 price range. The stock opened trading this morning around $16.50 a share, down almost 3%, and quickly fell to a session low of $16.00 a share within the first 20 minutes. The early dropped sparked modest buying interest, lifting the stock to less than 0.1% of its IPO price at $16.90 a share, before drifting nearly 4% lower again throughout afternoon trading.
In other sector news:
(+) comScore ( SCOR ) has climbed over 4% higher on Thursday after analysts at Aegis Capital began coverage of the data analytics company with a Buy stock rating and a $29 price target.
(+) Apple ( AAPL ) edged lower Thursday afternoon, falling nearly 1% in late trade, after the tech giant signed a license agreement with Dialog Semiconductor securing selected power management technologies to support its future chip-making research and development in the future. The deal also includes the transfer of certain assets and over 300 Dialog employees are expected to soon start work at Apple.
(-) Atomera ( ATOM ) plunged as much as 23% during Thursday trading after pricing a $12.5 million public offering of 2.6 million common shares at $4.75 each, trailing Wednesday's closing price for the stock by about 24%. Underwriters participating in the offering also received a 30-day option to buy up to 393,750 additional shares. The semiconductor components company will use net proceeds for working capital and general corporate purposes.