Technology stocks were outpacing most industry sectors in Monday trading, with the SPDR Technology Select Sector Fund (XLK) rising 0.9% while the Philadelphia Semiconductor Index was gaining 0.5% this afternoon.
In company news, Coupa Software (COUP) soared almost 27% after the business spending management firm agreed to an $8 billion buyout offer from private-equity investors Thoma Bravo. Coupa shareholders will receive $81 in cash for each share.
Daktronics (DAKT) rose over 10% after the stadium-displays firm reported a 14% year-over-year increase in its Q2 revenue, rising to $187.4 million during the three months ended Oct. 29. The company also said it negotiated a $10 million, short-term increase to an existing $35 million loan facility.
Nano Dimension (NNDM) gained 7.3% after saying an unnamed European army is buying the company’s DragonFly IV 3-D printer. Financial terms of the new purchase order were not disclosed but the company said it marks the tenth time a western military agency has bought the printer capable of producing three-dimensional electronic parts used in unmanned aerial drones and satellites.
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