Top Tech Stocks
Technology stocks continued to add to their mid-day advance this afternoon, with the shares of tech stocks in the S&P 500 climbing over 1.3% while the Philadelphia Semiconductor Index was more than 2.4% higher.
Among technology stocks moving on news:
(+) Jabil ( JBL ) climbed 6% after a Raymond James upgrade of the contract electronics manufacturer to strong buy from market perform.
In other sector news:
(+) Roku ( ROKU ) rose 7% on Monday after KeyBanc raised its price target for the streaming video device company by $13 to $76 a share while keeping its stock rating at overweight.
(+) iQIYI Inc ( IQ ) was climbing 3% after the Chinese internet content company late Friday said it has closed on a $1.2 billion private placement of convertible senior notes due 2025, which included the initial purchasers exercising their option to buy an additional $150 million of notes.
(-) Qutoutiao Inc ( QTT ) fell 10% after the Chinese mobile content platform late Friday disclosed plans for a follow-on public offering of 8.5 million of its American depositary shares, with the company selling about 1.05 million ADSs and certain shareholders selling the other 7.45 million ADSs.
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