Technology

Technology Sector Update for 06/26/2017: MSFT, AAPL, IBM, CSCO, GOOGL, WDC, FB, BBRY

Top Technology Stocks:

MSFT: +0.5%

AAPL: +0.6%

IBM: +0.6%

CSCO: +0.9%

GOOGL: +0.5%

Technology shares were mostly higher in Monday's pre-market trade.

In technology stocks news, Western Digital ( WDC ) was up 1.1% after Reuters reported that the company told its semiconductor plant partner Toshiba Corp. in a letter dated June 25 it won't agree to the $18 billion sale of the unit to a preferred bidding consortium that includes rival chipmaker SK Hynix Inc. Western Digital has sought a U.S. court injunction to prevent any deal that does not have its consent. Toshiba is rushing to clinch an agreement by June 28, the day of its annual shareholders meeting, Reuters said. Western Digital notes in the letter its concern that SK Hynix's participation in a consortium purchasing Toshiba's interests in their joint ventures "increases the likelihood of technology leakage and harm to the JVs going forward," Reuters reported.

In other sector news,

(+) FB (+0.5%) Reportedly in talks with Hollywood studios and agencies about producing TV-quality shows

(-) BBRY (-2.7%) BMO Capital Markets maintains rating for shares at market perform and boosts price target to $10

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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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