Technology Sector Update for 04/15/2024: BLKB, AAPL, SNPO, REZI

Tech stocks were decreasing Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) dropping 1.7% and the SPDR S&P Semiconductor ETF (XSD) down 1.9%.

The Philadelphia Semiconductor Index shed 1.6%.

In corporate news, Blackbaud (BLKB) shares jumped nearly 4% after it said it will "carefully evaluate" Clearlake Capital's unsolicited, non-binding proposal to buy the company for $80 per share in cash.

Apple (AAPL) lost the top spot in the global smartphone market to Samsung after its Q1 shipments fell by nearly 10%, data from research firm IDC showed on Sunday. Apple shipped more than 50.1 million in Q1, down from 55.4 million a year earlier, IDC said. The tech giant's shares were losing 1.6%.

Snap One (SNPO) shares surged past 30% after Resideo Technologies (REZI) said it agreed to buy Snap One for $10.75 per share in cash, or about $1.4 billion, inclusive of net debt of about $460 million. Resideo shares declined 3.6%.

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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