NEW YORK ( TheStreet) -- Technology stocks have been creating all the buzz lately, said TheStreet's Debra Borchardt.
On Tuesday, LinkedIn (LNKD) announced that it would be doing a $1 billion secondary offering. One day later, it raised that amount by 20%, to $1.2 billion. The secondary will now be for 5.38 million shares at $223 apiece.
Borchardt said questions continue to circulate about what the cash will be used for, creating speculation for an acquisition. In any event, with rising rates, this was clearly the cheaper way to raise money for the company, she pointed out. So far, it hasn't really hurt shareholders.
In other tech news, Yahoo! (YHOO) has finally decided on a new logo after some time spent experimenting. Also, Samsung released its new smart watch, the Samsung Gear. So far, there hasn't been much to cheer about, Borchardt said, and nobody seems to be too fired up about the new device.-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts