Technology Sector Update for 12/05/2017: SNAP,DGLY,HMNY

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Top Tech Stocks

MSFT +0.70%

AAPL +0.01%

IBM -0.61%

CSCO -1.19%

GOOG +0.77%

Technology stocks gave back a portion of their Tuesday recovery as the U.S. markets weakened this afternoon while shares of tech companies in the S&P 500 holding on to a slightly more than 0.2% gain in late trade.

In company news, Snap ( SNAP ) at one point climbed over 11% on Tuesday, touching a session high of $15.10 a share, after analysts at Barclays today raised their investment recommendation for the messenger service to Overweight from Equal Weight and increased their price target for the company's stock by $7 to $18 a share.

In a new research note to investors, Barclays analyst Ross Sandler said he expects Snap will soon begin hitting or exceeding consensus estimates for revenue as growth accelerates at the company next year. He also believes the company's "pricing transition" is in its final stage, with Snap benefiting from a shift in sentiment expecting it to co-exist with rival social media colossus Facebook.

In other sector news,

(+) DGLY, Decides to bring its wirelessly controlled electroshock weapon to market after the U.S. Patent and Trademark Office discloses plans to grant a patent next week for the nonlethal weapon.

(-) HMNY, Launches $8.99 per month Movie Club subscription program through its majority-owned Cinemark Holdings Inc. Also Maxim Group reiterates $25 price for the company's stock, contending Movie Club will not undermine Moviepass subscriptions.

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: SNAP , DGLY , HMNY

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