Technology Sector Update for 01/16/2019: GOGO,IRDM,EFII

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Top Tech Stocks

MSFT +0.31%

AAPL +1.28%

IBM -0.07%

CSCO -0.18%

GOOG +0.53%

Technology stocks were edging higher in recent trading, with the shares of tech companies in the S&P 500 adding just over 0.2% in value, although the Philadelphia Semiconductor Index was falling about 0.2%.

Among technology stocks moving on news:

(+) Gogo ( GOGO ) was nearly 4% higher in recent trading after the onboard broadband connectivity company Wednesday said it outfitted a net 477 aircraft with satellite technology during 2018, increasing its overall total to 1,296 commercial aircraft.

In other sector news:

(-) Iridium Communications ( IRDM ) has turned 2% lower Wednesday afternoon, giving back an earlier small gain, after the company said it has activated its Iridium Certus broadband service, the first commercial application to go live since it completed a $3 billion satellite replacement program.

(-) Electronics for Imaging ( EFII ) was down 18% after the computer peripherials company said it is expecting adjusted Q4 net income in a range of $0.45 to $0.47 per share, lagging the Capital IQ consensus by at least $0.13 per share. It also sees revenue for the final three months of 2018 missing the $280 million Street view.

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: GOGO , IRDM , EFII

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