Technology Sector Update for 12/31/2015: DSKY,ASYS,STV

Shutterstock photo

Top Tech Stocks

MSFT -1.09%

AAPL -1.78%

IBM -0.92%

CSCO -1.09%

GOOG -1.61%

Technology stocks extended their declines Thursday, with shares of tech companies in the S&P 500 dropping around 1.2%.

In company news, iDreamSky Technology Ltd ( DSKY ) rose Thursday after the Chinese mobile games publishers agreed to a $620 million going-private transaction with Dream Investment Holdings valuing it at $14.00 per American depositary share, a nearly 40% premium to its Class A and Class B share prices on June 12 when the company first said it had received the going-private proposal.

The buyout consortium is being led by iDreamSky board chairman and CEO Michael Xiangyu Chen and Anfernee Song Guan, chief technology officer at the company. The deal is expected to close before mid-year, subject to various closing conditions, including approval from at least two-thirds of its shareholders.

DSKY ADS were up slightly almost 1% in late trade at $13.40 each, down from a session high earlier today at $13.50 per ADS.

In other sector news,

(+) ASYS, Receives over $22 mln in new orders - including around $11 mln in orders for its plasma-enhanced chemical vapor deposition systems - from a "top-tier" solar cell manufacturer in Asia.

(-) STV, China Digital TV terminates asset-restructuring agreement.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?