Technology

Technology Sector Update for 06/29/2017: INPX,NXTD,EMKR

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Top Tech Stocks

MSFT -1.88%

AAPL -1.90%

IBM -0.84%

CSCO -2.21%

GOOG -2.73%

Technology stocks have resumed their retreat this week, giving back all of Wednesday's solid advance as shares of tech companies in the S&P 500 drop more than 1.1%.

In company news, Inpixon ( INPX ) tumbled under $1 a share for the first time in more than six years on Thursday, dropping more than 48% to a 75-month low of 69 cents a share after the data analytics company priced a $6 million public offering of nearly 1.85 million common shares at $1.05 each, a more than 17% discount to Wednesday's closing price.

Investors participating in the deal also received an equal number of five-year warrants to buy up to 1.85 million additional common shares and exercisable at $1.3125 each. They also received Class B equity units for $1,000 apiece, which consisted of 4,060 shares of the company's Series 2 convertible preferred stock and are each convertible in 952 shares of common stock.

Net proceeds will be used to redeem around $5.49 million in debt.

In other sector news,

(+) NXTD, (+27.8%) Nxt-ID's Fit Pay selected to provide payment capabilities for Token, a biometric identity ring that streamlines authentication process.

(-) EMKR, (-9.4%) Cut to Neutral from Buy at B. Riley & Co.

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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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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