Strong Gains for Tech Stocks

Technology stocks were firming in recent trading, with the shares of tech stocks in the S&P 500 adding nearly 1.7% in value while the Philadelphia Semiconductor Index was rising almost 3%.

Among technology stocks moving on news:

(+) Vuzix (VUZI) soared more than 41% after unveiling, together with Dubai-based software developer NNTC, its autonomous iFalcon face recognition system integrated with its Vuzix Blade Smart glasses. iFalcon runs using artificial intelligence and will be used by NNTC for regional security operations.

In other sector news:

(+) Tableau Software (DATA) rallied Monday and was up more than 33% at mid-day Monday, after the business analytics company agreed to a $15.7 billion, all-stock buyout transaction from Salesforce (CRM), with investors receiving 1.103 of a Salesforce common share for each of their Tableau shares.

(+) Analog Devices (ADI) rose 6% after a Goldman Sachs upgrade of the specialty chipmaker to buy from sell previously. The brokerage also raised its price target for the company’s stock by $13 to $114 a share.

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