Top Tech Stocks
Technology stocks were paring some of their deeper losses from earlier in Monday trading, with shares of tech companies in the S&P 500 plunging nearly 1.4%.
In company news, Digi International ( DGII ) surged to a five-year high on Monday after the internet-of-things hardware producer formally rejected a $360 million unsolicited buyout offer from signal transmission specialists Belden Inc. ( BDC ), saying the proposal "significantly undervalues" the company.
In prepared remarks, the company said it was confident in its prospects as a stand-alone company, adding Digi was well positioned to continue generating profitable revenue growth.
DGII shares were up almost 16% at $5.48 each, earlier reaching their best price since July 2011 at $13.85 a share.
In other sector news,
(+) MENT, (+18.3%) Accepts $4.5 bln acquisition proposal from Siemens, which is paying $37.25 in cash for each MENT share, a 21% premium over Friday's closing price.
(-) HEAR, (-20.7%) Reduced to Neutral from Buy at B Riley & Co.
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