Technology Sector Update for 09/09/2019: CCC,AYX,CYOU,SOHU,NTNX

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MSFT -1.7%

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CSCO -0.60%

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Technology stocks slumped in late trading, with the shares of tech stocks in the S&P 500 (XLK) sinking more than 1.1% on Monday although the Philadelphia Semiconductor Index (^SOX) was rising nearly 0.3%.

Among technology stocks moving on news:

(-) Clarivate Analytics (CCC) declined more than 2% on Monday after the subscription analytics company earlier said it has purchased privately held SequenceBase, which provides patent sequence information and search technology. Financial terms of the acquisition were not disclosed.

In other sector news:

(+) Ltd (CYOU) rose as much as 56% on Monday after the Chinese online games company said it received a $10-per-American depositary share buyout offer from internet content provider and majority owner Ltd (SOHU). If the transaction is completed, would become a wholly-owned subsidiary of and would no longer be a publicly-traded company.

(+) Nutanix (NTNX) climbed 10.5% after Susquehanna Monday raised its stock rating for the enterprise cloud platform to positive from negative previously. It also nearly doubled its price target on the company's stock, with an increase of $22 to $45 a share.

(-) Alteryx (AYX) slid 15.5%. A regulatory filing showed company president and chief revenue officer Robert Jones sold 1,599 of the data analytics company's common shares at $146.53 apiece after exercising an equal number of recently vested restricted stock units at $27.09 each. Jones pocketed a $190,985 profit from the transactions and continues to directly own 42,150 Alteryx shares.

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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