Sector Update: Tech Stocks Lean Lower Premarket Monday

MT Newswires Live09-30

Technology stocks were leaning lower premarket Monday as the Technology Select Sector SPDR Fund (XLK) was down 0.5% and the SPDR S&P Semiconductor ETF (XSD) fell by 0.7% recently.

Emcore (EMKR) shares surged by 100% after Mobix Labs (MOBX) said it has submitted a non-binding cash offer to acquire Emcore shares for $3.80 apiece.

TTEC Holdings (TTEC) shares rose by over 40% after the company said its board had received an unsolicited proposal from founder and CEO Kenneth Tuchman to take the company private at a purchase price of $6.85 per share.

Gilat Satellite Networks (GILT) shares were up more than 1% after the company said it secured a "multi-million" contract extension to continue providing services to a satellite operator in the Asia Pacific region for another 12 months.

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