Technology Sector Update for 11/11/2019: CARB, OTEX, SPWR, FB, MSFT, AAPL, IBM, CSCO, GOOG

Top Technology Stocks:

MSFT: -0.31%

AAPL: -0.59%

IBM: -0.44%

CSCO: -1.37%

GOOG: -0.41%

Technology heavyweights were declining pre-market Monday.

Stocks moving on news include:

(+) Carbonite (CARB), which was surging by more than 24% after OpenText (OTEX) agreed to acquire the company for $23 per share in a $1.42 billion cash and debt deal.

(+) SunPower (SPWR) was gaining almost 6% in value amid plans to split into two publicly traded companies, SunPower and Maxeon Solar Technologies. SunPower will continue to house its North American distributed generation, storage and energy services businesses, while Maxeon Solar will operate as a manufacturer and marketer of solar panels.

In other sector news:

(-) Facebook (FB)-owned Instagram said starting this week it will begin hiding the number of likes a post has gotten for some US users, several media outlets reported. Facebook was recently trading lower.

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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