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Technology Sector Update for 06/29/2015: APH,KZ,CRDS

Top Tech Stocks

MSFT -1.91%

AAPL -1.70%

IBM -1.47%

CSCO -2.65%

GOOG -2.04%

Technology stocks slumped Monday with shares of technology companies in the S&P 500 finishing near their session lows after declining about 2.1%.

In company news, Amphenol Corp ( APH ) shares were higher in late Monday trade after the electronic components manufacturer said it is in exclusive talks to acquire to buy FCI Asia PTE Ltd from Bain Capital for about $1.28 billion.

The deal would significantly expand Amphenol's product mix with telecom interconnection devices. FCI Asia is expected to generate around $600 million in sales this year and would boost its per-share earnings during the first year after closing, Amphenol said.

In other sector news,

(+) KZ, Receives non-binding "going private" offer from board Chairman and CEO Leilei Wang and IDG-ACCEL China Growth Fund II, paying $8.56 per ADS.

(-) CRDS, Sets terms for July 6 rights offering, with shareholders receiving one subscription right to buy 0.5 of a share at $1.25 apiece for each common or preferred share they now own.

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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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