Top Tech Stocks
Technology stocks were retreating again, with the shares of tech stocks in the S&P 500 dropping nearly 1.6% in value while the Philadelphia Semiconductor Index was falling over 3.3%.
Among technology stocks moving on news:
(-) STMicroelectronics NV (STM) slipped 7.8% in afternoon trading. The chipmaker Monday disclosed in a new regulatory filing it repurchased 347,605 of its shares between May 13 to May 17, paying EUR5.17 million, or about EUR14.8722 per share, on average.
In other sector news:
(+) EchoStar (SATS) climbed 3.6% on Monday after agreeing to sell its broadcast satellite service business to Dish Network (DISH) for $800 million in stock, receiving around 22.9 million shares of Dish common shares. The deal is expected to wrap up before the end of the year, subject to closing conditions.
(-) Keysight Technologies (KEYS) dropped more than 9% after Robert W. Baird lowered its investment recommendation on the electronic design and test company to neutral from outperform previously.
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