Markets
WDC

Technology Sector Update for 09/30/2015: WDC,EZCH,MLNX,CUDA

Top Tech Stocks

MSFT +0.87%

AAPL +0.33%

IBM +1.19%

CSCO +1.79%

GOOG +1.64%

Technology stocks were rebounding in afternoon trade, with shares of technology firms in the S&P 500 posting a 1.0% advance.

In company news, Western Digital ( WDC ) rallied Wednesday after disclosing a $3.78 billion investment into the date storage company by Unisplendour, which bought more than 40.8 million of its shares at $92.50 apiece, a 33.3% premium to yesterday's closing price for the stock.

Following the purchase, Unisplendour will hold a 15% stake in Western Digital.

WDC shares were up nearly 14% at $78.50 each, earlier climbing to a session high of $80.70 a share.

In other sector news,

(+) EZCH, (+14.4%) Agrees to $811 million buyout offer from Mellanox, which will pay $25.50 in cash for each EZCH share, a 16% premium to Tuesday's closing price. MLNX sees deal adding to non-GAAP per-share earnings "on Day 1."

(-) CUDA, (-36.7%) Warns storage market growth has slowed, upstaging Q2 EPS of $0.10 beating Street view by $0.01 per share. Revenue rises 14.1% to an in-line $78.4 million. Acquires data-protection firm Intronis; terms not disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

WDC

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More