• Sat. Feb 24th, 2024

Technology Sector Update for 03/29/2023: BLKB, AVGO, VMW, KULR, IBM

ByMTNewswires

Mar 29, 2023
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Tech stocks were higher late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 2.2% while the Philadelphia Semiconductor index was up 3.7%.

In company news, Blackbaud (BLKB) is getting a reiterated all-cash buyout offer from Clearlake Capital Group of $71 per share after rejecting the latter’s proposal on Monday, Clearlake said Wednesday. Blackbaud shares were up 3.2%.

Broadcom (AVGO) and VMware (VMW) will face further investigation by the UK’s Competition and Markets Authority over their planned merger deal, the regulator said. Broadcom and VMware were both up about 0.5%.

KULR Technology (KULR) said it has named Shawn Canter as chief financial officer, starting March 31. KULR shares added almost 14%.

IBM (IBM) and cloud storage company Wasabi Technologies said they have teamed up to integrate IBM’s Cloud Satellite product with Wasabi’s “hot cloud” storage. IBM shares were up 0.3%.

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