Technology Sector Update for 07/12/2021: DQ, CHKP, DM

Technology stocks were edging lower, with the SPDR Technology Select Sector ETF Monday slipping less than 0.1% while the Philadelphia Semiconductor Index was posting a 0.6% gain this afternoon.

In company news, Daqo New Energy (DQ) was fractionally lower, giving back a nearly 6% gain earlier Monday, after its unit Xinjiang Dao New Energy priced its initial public offering of 300 million shares on the Shanghai Stock Exchange at 21.49 yuan ($3.32) per share.

Check Point Software Technologies (CHKP) fell almost 1% after Deutsche Bank Monday lowered its price target for the Israeli cybersecurity firm by $3 to $122 a share and reiterated its hold rating for the stock.

Desktop Metal (DM) slid 2.2% after the 3-D printer company announced its purchase of Belgian manufacturing technology company Aerosint. Financial terms were not disclosed.

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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