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By Staff Reporters
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Cisco Systems has struck a $28 billion deal to buy analytics and security-software company Splunk as the networking-equipment giant looks to tap further into the rise of artificial intelligence. Cisco said Thursday it has agreed to pay $157 a share in cash for Splunk, a 31% premium to Wednesday’s closing price of $119.59 for the San Francisco company.
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Here is where the major benchmarks ended:
- The S&P 500 Index was down 72.20 points (1.6%) at 4,330.00; the Dow Jones Industrial Average (DJIA) was down 370.46 points (1.1%) at 34,070.42; the NASDAQ Composite (COMP) was down 245.14 points (1.8%) at 13,223.98.
- The 10-year Treasury note yield (TNX) was up about 14 basis points at 4.49%.
- CBOE’s Volatility Index (VIX) was up 2.40 at 17.54.
Recession or interest rate concerns weighed particularly heavily on sectors viewed as having greater exposure to those factors. Shares of real estate, consumer discretionary, and financial companies were among the market’s poorest-performing sectors Thursday, with the KBW Regional Banking Index (KRX) sinking to an 11-week low.
The outlook for higher-for-longer interest rates helped lift the U.S. Dollar Index (DXY) to a 6½-month high, though it faded later.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Financial Planning, Funding Basics, Investing | Tagged: CBOE, Cisco, DJIA, DOW, markets, NSDAQ, Russell 2000, S&P 500, Splunk, VIX | Leave a comment »
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