Technology Sector Update for 11/29/2019: TATT,TECD,OTEX,APO

Image result for Technology Sector Update for 11/29/2019: TATT,TECD,OTEX,APOTop Tech Stocks

MSFT -0.62%

AAPL -0.22%

IBM +0.51%

CSCO +0.15%

GOOG -0.61%

Technology stocks declined Friday, with the shares of tech companies in the S&P 500 sliding more than 0.3% while the Philadelphia Semiconductor Index fell 1%.

Among technology stocks moving on news:

(-) TAT Technologies (TATT) climbed over 9% after the Israeli avionics and electronic components company Friday said it swung to a Q3 profit of $0.02 per share, reversing a $0.06 per share net loss during the same reporting period last year while revenue grew 12.5% to $26.1 million.

In other sector news:

(+) Tech Data (TECD) climbed over 12% after the IT equipment distributor Friday said it has accepted an increased $145-per-share buyout offer from Apollo Global Management (APO), which raised its prior bid by $15 per share after the company earlier this week reported receiving a superior offer without publicly providing any details.

(-) Open Text (OTEX) declined fractionally after the software firm filed for a mixed shelf offering of up to $1.5 billion of securities. The company is expecting to use the net proceeds for general corporate purposes.