Markets

Financial Sector Update for 10/06/2015: MITK, CSCO, SWKS, PMCS

Top Technology Stocks:

MSFT: -0.39%

AAPL: -0.55%

IBM: flat

CSCO: +0.45%

GOOG: -0.08%

Technology shares were lower in pre-market trade.

In other technology stocks news, Skyworks Solutions ( SWKS ), a producer of analog semiconductors, said Tuesday that it has entered into a definitive agreement to acquire its peer PMC ( PMCS ) in an all-cash transaction valued at $2 billion. Under the terms of the transaction, each PMC share will be exchanged for $10.50 in cash, representing a 37% premium over the stock's previous closing price.

And, Mitek Systems ( MITK ), a company focused on mobile capture and identity solutions, said it has received reorders from two Mobile Deposit partners, one in the U.S. and one in Canada, totaling $1.7 million. These agreements closed in Mitek's fiscal 2015 fourth quarter and consisted of $1.4 million in software license revenue and $0.3 million in annual maintenance revenue.

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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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