Technology

Technology Sector Update for 04/10/2017: MSFT,XCRA,IMMR

Top Tech Stocks

MSFT -0.12%

AAPL -0.14%

IBM -0.48%

CSCO +0.08%

GOOG +0.07%

Technology stocks fell today, with shares of tech companies in the S&P 500 dropping about 0.2% this afternoon.

In company news, Microsoft ( MSFT ) was edging higher shortly before Monday's closing bell after the software and hardware company today said it was buying a cloud "container" company, expanding its efforts to make the technology easier to use.

Financial terms of the transaction to acquire Deis were not disclosed. In a blog post today, executive vice president for Microsoft's cloud and enterprise group, Scott Guthrie, said Deis will be partnered with the company's Azure unit, adding it has seen "explosive growth in both interest and deployment of containerized workloads on Azure."

Guthrie also said Microsoft is looking forward to the Deis team bringing additional expertise with open-source technology to the company and furthering its efforts to improve developer productivity.

MSFT shares were down 0.1% at $65.60 apiece, see-sawing between small gains and losses this afternoon after recovering from an earlier slide to a session low of $65.36 a share shortly after 12 p.m. ET.

In other sector news,

(+) XCRA, Agrees to $580 mln private-equity takout by Unic Capital Management, which will pay $10.25 in cash for each of the company's shares. a 16% premium over its average price over past 30 days through Friday's close. Deal also includes 35-day go-shop period to solicit a better offer.

(-) IMMR, Renews license agreement with Meizu Technology, enabling the smartphone manufacturer to use Immersion's TouchSense Premium technology.

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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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