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Technology Sector Update for 01/15/2016: MSCC, PMCS, CDRB, PRO

Top Tech Stocks

MSFT -4.28%

AAPL -2.50%

IBM -2.49%

CSCO -4.22%

GOOG -3.06%

Technology stocks were finishing in deep hole, with shares of tech companies in the S&P 500 posting a 2.9% decline.

In company news, Microsemi ( MSCC ) fell Friday after the chipmaker closed on its acquisition of rival PMC-Sierra ( PMCS ).

The company said it accepted 81.32% of the available PMCS shares for tender, exchanging $9.22 in cash and 0.0771 of a Microsemi share for each PMC-Sierra share tendered.

MSCC shares were down more than 6% at $29.85 apiece, staying just above their $29.81-a-share session low.

In other sector news,

(+) CDRB, Signs non-binding Letter of Intent to merge with privately held Aegis Identity Software.

(-) PRO, Sees Q4 revenue in a range of $42 mln to $42.5 mln, topping analyst projections looking for $41.72 million.

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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Technology Sector Update for 01/15/2016: MSCC, PMCS, CDRB, PRO Reviewed by on . Top Tech Stocks MSFT -4.28% AAPL -2.50% IBM -2.49% CSCO -4.22% GOOG -3.06% Technology stocks were finishing in deep hole, with shares of tech companies in the S Top Tech Stocks MSFT -4.28% AAPL -2.50% IBM -2.49% CSCO -4.22% GOOG -3.06% Technology stocks were finishing in deep hole, with shares of tech companies in the S Rating:
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