Technology

Technology Sector Update for 12/11/2017: CSIQ,TTD,DY

Top Tech Stocks

MSFT +0.94%

AAPL +1.74%

IBM +0.46%

CSCO +0.77%

GOOG +0.23%

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.

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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