Technology Sector Update for 10/12/2017: CLNT,POLA,HMNY

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Top Tech Stocks

MSFT +1.07%

AAPL +0.28%

IBM -0.13%

CSCO -0.49%

GOOG +0.08%

Technology stocks were putting up small gains, with shares of tech companies in the S&P 500 adding nearly 0.2%.

In company news, Cleantech Solutions International ( CLNT ) was surging Thursday, earlier climbing almost 18% to a session high of $5.85 a share, after the company said its Sharing Economy Investment Ltd subsidiary has struck an exclusive deal to negotiate the potential purchase of a majority stake in a startup company developing interactive virtual-tour technology.

Financial terms and other details of the new agreement with 3D Discovery were not disclosed.

In other sector news,

(+) POLA, (+12.1%) Receives a large, multi-unit purchase order for its 15-kilowatt back-up diesel DC generator from a new Tier-1 wireless carrier customer in the United States, which plans to 52 units to hurricane-affected telecom sites in Puerto Rico over the next two weeks.

(-) HMNY, (-24.6%) Retreats from a 17-year high after the company agrees to increase the purchase price for MoviePass by an extra $1.5 mln to $28.5 mln, boosting its stake to 53.71% from 53% previously. Also pockets about $12.8 mln from the holder of its senior secured convertible notes, satisfying the $10 mln financing condition for the upcoming move to acquire a majority stake.

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: POLA , HMNY

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