Technology
MU

Technology Sector Update for 02/04/2019: NVDA,MXWL,TSLA,ULTI,MU

Top Tech Stocks

MSFT +2.70%

AAPL +2.77%

IBM +0.31%

CSCO -0.16%

GOOG +1.82%

Technology stocks contined to advance this afternoon, with the shares of tech stocks in the S&P 500 rising over 1.5% in value while the Philadelphia Semiconductor Index was climbing more than 0.3%.

Among technology stocks moving on news:

(+) Nvidia ( NVDA ) climbed over 3% on Monday after the chipmaker received an unsolicited "mini-tender" offer from TRC Capital Corp seeking to buy up to 1 million shares of its common stock at $149.88 apiece, which is a 3.6% premium to Friday's closing price.

In other sector news:

(+) Maxwell Technologies ( MXWL ) raced 49% higher after Monday agreeing to a more than $200 million, all-stock acquisition offer from electric car-maker Telsa ( TSLA ). The proposed transaction values the ultracapacitor manufacturer at $4.75 per share, or a 54.7% premium to Friday's closing price.

(+) Ultimate Software Group ( ULTI ) jumped almost 32% to a new record high of $365.86 a share after agreeing to an $11 billion cash buyout offer from a group led by private equity firm Hellman & Friedman, which will pay $331.50 per share for the human capital management software company.

(-) Micron Technology ( MU ) fell almost 1% on Monday after the memory chipmaker announced plans for a private placement of senior notes and using the net proceeds to redeem its 3% convertible senior notes due 2043.

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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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