Markets

Technology Sector Update for 11/27/2015: NXPI,FSL,VLTC,ATHM

Top Tech Stocks

MSFT +0.55%

AAPL -0.08%

IBM +0.47%

CSCO +0.51%

GOOG +0.37%

Technology stocks were hanging on to moderate advances, with shares of tech companies in the S&P 500 adding around 0.3%.

In company news, NXP Semiconductor ( NXPI ) rose Friday after the chipmaker received final regulatory approval from the Ministry of Commerce of China to complete its merger with Freescale Semiconductor ( FSL ).

The positive nod from Chinese regulators follows a favorable decision from the U.S. Federal Trade Commission on Monday and approval Tuesday by the Committee on Foreign Investment in the United States of its sale of its RF Power subsidiary to Jianguang Asset Management Co. Ltd. Authorities in Japan and Korea, along with the European Union, also have signed off on the deals.

NXP Semi and Freescale anticipate closing their merger and RF Power divestment on Monday, Dec. 7.

NXPI shares rose nearly 5% at $88.36 apiece, edging down from a session high of $88.39 a share. FSL ended over 4% higher at $37.38 each, earlier topping our at $37.31 a share.

In other sector news,

(+) CPSI, (+1.3%) Price target increased by $8 to $53 a share at FBR Capital, which reiterated its Market Perform rating for the company's stock.

(-) ATHM, (-0.3%) Incumbent director Ted Tak-Tai Lee re-elected to the company's board following shareholder vote at company's annual meeting in Hong Kong.

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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