Technology Sector Update for 06/19/2017: HRS,MDSI,APPN


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Technology stocks were rebounding today following several rough sessions for the sector last week, with shares of tech companies in the S&P 500 climbing slightly more than 1.4%.

In company news, Harris Corp ( HRS ) extended its previous gains this afternoon, rising to a session high of $112.14 a share after the networking equipment company today received a six-year, $255 million single-award indefinite-delivery/indefinite-quantity contract from the U.S. Special Operations Command.

The new contract includes NGMP radios as well as a new RF-410 NGPA power amplifier, vehicular systems and accessories and push-to-talk headset audio sub-systems.

In other sector news,

(+) MSDI, Agrees to non-binding reverse merger proposal with Innovate Biopharmaceuticals, which will own about 90.9% of combined companies. The company will change its name to Innovate Bio and apply for a new ticker symbol.

(-) APPN, Goldman Sachs begins analyst coverage with a Neutral investment rating and a $17 price target.

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

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This article appears in: Technology , Commodities
Referenced Symbols: HRS , MDSI , APPN


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