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Monday Merger Fun & Why Apple Led Tech Stocks Lower Today

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On today’s episode of Free Lunch, Ryan McQueeney discusses continued volatility in tech stocks, namely Apple and Amazon, and why General Electric shares are slumping once again. The host also highlights merger news affecting the likes of athenahealth and SAP.

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Free Lunch is presented by Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.

Bond markets are closed today in observance of Veteran’s Day, but stock markets are open and major indexes are noticeably lower thanks to pressure on key industry bellwethers.

Volatility in tech stocks is being led by Apple (AAPL - Free Report) , which extended its post-earnings losses in early trading Monday after a key supplier lowered its current quarter guidance. Lumentum Holdings (LITE - Free Report) , maker of chips that Apple uses in its facial recognition system, said that revenue for the period will be about $20 million lower than it previously expected.

This pressure seeped into other major tech stocks this morning, including Amazon (AMZN - Free Report) . The e-commerce behemoth saw its shares dip about 4%, despite a positive research note and price target hike from analysts at Instinet.

Meanwhile, General Electric (GE - Free Report) shares moved lower on the back of new CEO Larry Culp’s comments on CNBC. Citing an urgency to reduce the company’s leverage, Culp said that GE would focus on selling assets soon.

The morning’s other major storyline was its M&A activity. Notably, private equity firm Veritas and Elliot Management reached a deal to buy athenahealth (ATHN) for $5.5 billion, while European tech major SAP (SAP - Free Report) announced that it was buying Qualtrics for $8 billion in an all-cash deal.

Make sure to check out today’s episode of Free Lunch, as Ryan recaps all of the above headlines and shares the key facts investors need to know right now!

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