Sector Update: Tech

By
A A A

Technology stocks were mostly lower, with shares of technology companies in the S&P 500 sinking about 0.6% as a group in afternoon trade.

In company news, CalAmp Corp. ( CAMP ) advanced Thursday after William Blair began coverage of the mobile networking equipment company with an Outperform rating, expecting the company to benefit from strong machine-to-machine and mobile resource management growth.

No price target information was available.


CAMP shares were up more than 4% at $17.56 apiece this afternoon, earlier reaching a session high of $17.74 a share. The stock has traded within a 52-week range of $14.71 to $34.85 a share, rising about 12.3% over that 12-month span.

In other sector news,

(+) MSFT, (+1.8%) Discloses plans to idle as many as 18,000 workers, with more than two-thirds of the layoffs coming from its mobile handset business recently acquired from Nokia ( NOK ).

(-) SNDK, (-12.7%) Fiscal Q3 revenue outlook between $1.675 bln to $1.725 bln trails analyst projections by at least $15 mln. Q2 EPS of $1.41 beats by $0.02 per share while its $1.63 bln in revenue tops Street by $30 mln.



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

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Commodities

Referenced Stocks: CAMP , NOK

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

88,615,972
  • $18.16 ▲ 1.57%
86,248,119
  • $31.24 ▼ 14.50%
51,068,934
  • $15.21 ▲ 3.61%
49,661,242
  • $26 ▼ 0.65%
45,376,064
  • $96.99 ▲ 1.78%
43,336,137
  • $35.76 ▲ 1.16%
40,128,160
  • $19.87 ▲ 0.61%
39,636,549
  • $46.29 ▲ 2.10%
As of 7/29/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com