Technology Sector Update for 04/04/2016: YGE,RKUS,BRCD,SUNE
Top Tech Stocks
Technology stocks were hanging on to narrow gains, with shares of tech companies in the S&P 500 posting a 0.2% increase.
In company news, Yingli Green Energy ( YGE ) was narrowly higher today after reaching a settlement with the Solyndra Residual Trust over allegations of unfair trade practices.
According to the agreement, Yingli will pay $7.5 million to Solyndra in exchange for the dropping the lawsuit against Yingli with prejudice. Also, If Yingli or any of its affiliates' total solar panel sales into the U.S. and Canada equals or exceeds 800 megawatts during in a single calendar year between now and 2018, it will make an additional $10 million one-time payment to Solyndra.
Y GE shares were up almost 3% at $4.73 apiece, staying with close range of their session high at $4.81 a share.
In other sector news,
(+) RKUS, Agrees to $1.5 bln acquisition bid by Brocade ( BRCD ), which will pay $14.43 a share for each RKUS share, a 44.3% premium over Friday's closing price.
(-) SUNE, Reportedly is preparing to file for Chapter 11 bankruptcy protection, according to Wall Street Journal.
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