Technology Sector Update for 04/14/2015: TI,UPIP,AAPL,NOK,ALU
Top Tech Stocks
Technology stocks were declining, with shares of technology companies in the S&P 500 slipping about 0.2%.
In company news, American depository shares of Telecom Italia ( TI ) rose Tuesday after the Italian carrier announced tender offers for up to 5.5 billion of its notes maturing between 2019 to 2022.
The company is offering to buy back up 1 billion each of its 4.0% notes due January 2020 and 4.875% notes due September 2020 as well as 1 billion of its 4.5% notes due January 2021. It also is seeking to reacquire up to 1.25 billion of its 5.375% notes due 2019 and 1.25 billion of its 5.25% notes due February 2022.
TI ADS were ahead almost 2% at $12.10 each, matching their session high. The stock has traded within a 52-week range of $9.46 to $13.54 per ADS, climbing less than 1% over the past 12 months through Monday's close.
In other sector news,
(+) UPIP, (+13.6%) Names Boris Teksler to be CEO, effective June 1. He currently is senior executive vice president at Technicolor and previously was the head of patent licensing and strategy at Apple ( APPL ).
(-) NOK, (-4.5%) Confirms advanced discussions with Alcatel-Lucent ( ALU ) about a possible merger.
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