Tech Stocks Help Sink Broader Markets

Technology stocks dragged on the broader U.S. markets Monday, with shares of tech companies in the S&P 500 Monday posting a nearly 1.3% decline.

In company news, TAT Technologies (TATT) advanced Monday, holding on to a slim share of a prior rise to $11.20 a share earlier today that followed the aerospace components company saying it has won a five-year auxiliary power unit maintenance support contract for a fleet of Boeing (BA) and Airbus aircraft.

Value of the contract, which will be performed by the company’s Piedmont Aviation Component Services unit, is estimated at around $40 million.
Work under the new contract is slated to begin during the final three months of the year.

In other sector news,

(+) SPI, (+21.6%) Announces agreement to acquire three photovoltaic panel-making firms in Greece – Thermi Sun, Heliohrisi and Heliostixio SA – from the Thermi Taneo venture capital fund for EUR16.65 mln, or about $19.76 mln, subject to certain adjustments and customary closing terms.

(-) SPWR, (-6.9%) Completes $17.9 mln sale of its former switchyard interconnecting the 100-megawatt El Pelicano solar project with the Integrated Central System in Chile to Transelec SA.

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