MSP

Madison Strategic Sector Premium Fund Madison Strategic Sector Premium Fund of Beneficial Interest

11.4800
USD
0.00%
11.4800
USD
0.00%
0.0000 0.0000
52 weeks
52 weeks

Mkt Cap 66.56M

Shares Out 5.80M

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Technology Sector Update for 04/11/2022: SONY,STER,MSP,SAIL

Technology stocks still were weighing on the broader Monday markets, with the SPDR Technology Select Sector ETF (XLK) declining 2.5% this afternoon while the Philadelphia Semiconductor Index was sliding 2.0%. In company news, Sony Group (SONY) fell 5.6% after it said it would invest another $1 billion in Epic Games, matching a $1 billion investment in the company behind the popular "Fortnite" from Kirkbi, the owner of the Lego toys and entertainment brands. Sony made its first investment in Epic Games in July 2020, contributing $250 million, followed by a $200 million strategic investment in April 2021 as part of a $1 billion funding round. Sterling Check (STER) slid 8.7% on Monday, recovering slightly from a more than 10% decline that followed a Morgan Stanley downgrade of the identity verification company to equalweight from overweight. The Morgan Stanley analysts also set a $26 price target for Sterling shares, matching Friday's closing price for the stock. Among gainers, Datto (MSP) rose almost 21% after agreeing to a $6.2 billion acquisition proposal from privately held remote management software firm Kaseya, valuing the cloud-based software firm at $35.50 per share in cash, or 23.6% above its last closing price. SailPoint Technologies Holdings (SAIL) climbed over 29% after the identity security firm Monday agreed to a $6.9 billion buyout offer from private-equity investors Thoma Bravo, which will pay $65.25 in cash for each SailPoint share, representing a 25.5% premium over Friday's closing price. 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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