Late Bounce Carries Tech Stocks to Positive Finish

Technology stocks finished with small gains, with shares of tech companies in the S&P 500 climbing almost 0.2% this afternoon.

In company news, Gigamon (GIMO) retreated Friday, sinking almost 8% to a session low of $40.20 a share following reports a bid by Elliott Management to buy the networking equipment company has ground to a halt amid disagreements over pricing the prospective deal.

But talks with Elliott still could be revived, people with knowledge of the matter told Reuters. Gigamon also could yet receive an offer from another interested party, they said.

In other sector news,

(+) SNCR, Restarts exclusive negotiations with Siris Capital about a potential transaction after last week terminating those talks in order to keep discussing a deal with other suitors.

(-) INAP, Mark Weaver resigns as vice president, controller and principal accounting officer, effective Nov. 10, to accept a job at another company. Weaver’s responsibilities will be assumed by chief financial officer Robert Dennerlein until a permanent replacement is hired.

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