Technology Sector Update for 04/17/2020: BILL,CDW,FB,MOSY

Technology stocks added to their mid-day gains, with the SPDR Technology Select Sector ETF advancing 1.0% while the Philadelphia Semiconductor Index also was up 1.0%. (BILL) climbed nearly 10% after the financial software company was Friday selected by G2 as one of the best products for finance, based on customer satisfaction and other criteria obtained from verified reviews posted on the website between January 2019 through March 3, 2020.

CDW (CDW) climbed 4.3% after the IT services company Friday priced a $600 million offering of 4.125% senior notes due 2025 at par.

Facebook (FB) was ending 1.6% higher. The social network company is in talks with Indian conglomerate Reliance Industries to create a multi-purpose app similar to WeChat, according to The Economic Times, citing four people familiar with the matter. Separately, CEO Mark Zuckerberg said in Facebook post the company has canceled all of its physical events attracting at least 50 people through June 2021.

MoSys (MOSY) tumbled over 37% after the chipmaker Friday announced plans for a $1.9 million direct offering of 1.2 million shares to selected institutional investors priced at $1.56 apiece. Net proceeds will be used for working capital and general corporate purposes.

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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