Tech Stocks Climb Amid Chip Deal Activity - Tech Roundup

Features Dow Jones Newswires

Shares of tech companies rose amid further deal activity among semiconductor companies. Chip maker Marvell Technology agreed to buy smaller rival Cavium for about $6 billion in cash and stock, seeking to add scale in a rapidly consolidating industry. Among the other putative deals in the chip sub sector, Broadcom recently launched an unsolicited offer for rival semiconductor concern Qualcomm valued at $105 billion, an offer that Qualcomm said was too low. Payment-technology company PayPal Holdings said it was entering a partnership with Acorns Grow, a provider of automated savings and investment service. Fantasy sports Website FanDuel said Chief Executive Nigel Eccles is leaving the company, months after FanDuel and rival DraftKings called off a merger.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

November 20, 2017 16:36 ET (21:36 GMT)