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Technology stocks were firming Monday, with shares of tech companies in the S&P 500 adding almost 0.4% in value although the Philadelphia semiconductor index was posting a less than 0.1% decline.
Among technology stocks moving on news:
- Splunk ( SPLK ) was back near Monday's starting mark this afternoon, paring a larger decline previously in the session that followed the big-data analytics company announcing a definitive agreement to acquire VictorOps, a business-to-business service, for around $120 million. The proposed transaction is expected to close during Splunk's fiscal Q2 ending July 31, with Splunk adding it expects to pay the entire $120 million price-tag using cash on hand.
In other sector news:
+ RF Industries ( RFIL ) surged to a more than four-year high on Monday, streaking nearly 41% higher to its best share price since Dec. 2013 at $8.80 a share after reporting huge jumps in its fiscal Q2 financial results compared with year-ago levels. The company earned $0.34 per share during the three months ended April 30, up from just $0.01 per share during the same quarter last year. It also generated a record $22.4 million in revenue, or almost triple year-ago levels. Analyst estimates were not available for comparison.
- Electronic Arts ( EA ) was staying on positive ground Monday, rising just over 1% in recent trading, following reports it will soon begin offering game subscriptions for the first time. The $15-per-month subscriptions should become available later this summer and provide early and full access to its latest PC games like "Battlefield V" and "FIFA 19," which typically cost about $60 each, according to The Wall Street Journal.
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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.
