Technology Sector Update for 01/17/2019: HMNY,TSM,GOOG,GOOGL,PLXS

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Top Tech Stocks

MSFT +0.43%

AAPL +0.32%

IBM +0.31%

CSCO +0.60%

GOOG +0.47%

Technology stocks have turned higher in late trading, with the shares of tech stocks in the S&P 500 adding almost 0.6% in value while the Philadelphia Semiconductor Index was up more than 1.1%.

Among technology stocks moving on news:

(+) Helios and Matheson Analytics Inc ( HMNY ) was edging higher Thursday after the data analytics company said it has submitted a draft Form S-1 registration statement to US regulators detailing plans for a newly formed subsidiary to take ownership of its MoviePass Entertainment operation and its other film-related assets and distributing a minority in the company as a dividend to Helios shareholders.

In other sector news:

(+) Taiwan Semiconductor Manufacturing ( TSM ) was nearly 2% higher shortly before Thursday's closing bell after reporting adjusted Q4 net income of TWD3.86 per share, up from TWD3.83 per share during the same period last year and exceeding the TWD3.82 per share analyst mean. CLSA Thursday also lowered its stock rating for the chipmaker to underperform from outperform previously.

(-) Alphabet (GOOG,GOOGL) was bouncing between a small gain and loss this afternoon. The internet conglomerate Thursday said its Google unit was raising the price of the basic and business editions of its G Suite productivity and collaboration tools for the first time.

(-) Plexus ( PLXS ) declined 4% on Thursday after reporting an increase in fiscal Q1 revenue to $765.5 million from $677.3 million during the year-ago period but still falling shy of the $768.3 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: HMNY , TSM , PLXS , GOOG , GOOGL

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