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.

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

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

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