Technology stocks continue to outpace most industry sectors during Monday trading, with the SPDR Technology Select Sector Fund (XLK) and Philadelphia Semiconductor Index both gaining 1.6%.
In company news, monday.com (MNDY) climbed 4.5% after JPMorgan raised its stock rating for the enterprise software firm to overweight from neutral and also increased its price target for the company’s shares by $10 to $140 apiece.
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 nearly 22% 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 4.8% 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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