Top Tech Stocks
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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