Technology Sector Update for 01/24/2020: FNJN,AVGO,ERIC,AAPL,INTC

Technology Sector Update for 10/14/2019: YNDX, GOOG, GOOGL, DOX, MSFT, AAPL, IBM, CSCO

Top Tech Stocks

MSFT -0.49%

AAPL +0.35%

IBM -0.89%

CSCO -0.14%

GOOG -0.90%

Technology stocks slumped Friday as the rest of the market tumbled. At last look, the shares of tech companies in the S&P 500 were falling 0.4% in recent trade while the Philadelphia Semiconductor Index was posting a 1.3% loss.

Among technology stocks moving on news:

Finjan Holdings (FNJN) was hanging on to a narrow gain this afternoon after the cybersecurity company said it has settled its patent dispute with privately held rival BitDefender. Under terms of the agreement, BitDefender gains a fully paid-up license in exchange for mutual releases and covenants not to sue the other software firm.

In other sector news:

(+) Broadcom (AVGO) rose 1% after the specialty chipmaker late Thursday announced two new work agreements to supply Apple (AAPL) with wireless components and modules through mid-2023. The new contracts, together with work remaining on a June 2019 supply agreement with the iPhone maker, could generate up to $15 billion in future revenue, according to Broadcom.

(-) Ericsson (ERIC) fell more than 7% after saying it was projecting “somewhat higher operating expenses” during 2020, although the networking equipment company said it does not see those costs jeopardizing its financial targets this year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source link