Top Tech Stocks
Technology stocks were continuing to show large gains in recent trade, with shares of tech companies in the S&P 500 posting a nearly 0.7% advance.
In company news, Canadian Solar ( CSIQ ) climbed to a nearly 7% gain on Monday, topping out at $18.40 a share, after the photovoltaic panels company said it has received a proposal from chief executive Xiaohua Qu to take the company private for $18.47 per share, a slightly more than 7% premium over Friday's closing price.
Under terms of the preliminary, non-binding proposal, Qu would acquire all of the company's shares not already owned by Qu or his wife. The company has formed a special board committee to study the proposal and it also expects to hire outside advisers to assist with that process.
In other sector news,
(+) TTD, (+6.8%) SunTrust raises investment recommendation to Buy from Hold.
(-) DY, (-0.2%) Stifel increases price target by $6 - or 5% - to $126 a share, also reiterates its Buy rating for the stock.
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