Technology Sector Update for 02/09/2018: GOOG,GOOGL,HMNY,TSM,DDD

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Top Tech Stocks

MSFT +4.02%

AAPL +1.27%

IBM +1.65%

CSCO +2.61%

GOOG +3.67%

Technology stocks outperformed most other sectors on Friday, with shares of tech companies in the S&P 500 jumping out to a nearly 2.9% gainwhile the Philadelphia semiconductor index was up slightly more than 2.6%.

Among technology stocks moving on news:

+ Alphabet (GOOG,GOOGL) was more than 2% higher shortly before Friday's closing bell after the technology conglomerate reportedly has settled a patent infringement fight between its Waymo self-driving car unit and privately held Uber, according to CNBC. Under the terms of the deal, Uber agreed not to keep Waymo confidential information out of its self-driving vehicles and will also provide Waymo with a 0.34% equity stake, worth about $245 million based on Uber's recent $72 billion valuation. The dispute began in early 2017 when Waymo accused Uber of acquiring some of its trade secrets after it buying a startup company run by a former Waymo engineer.

In other sector news:

+ Taiwan Semiconductor ( TSM ) still was narrowly higher late Friday after earlier reporting a 4.1% increase in revenue during January compared with year-ago levels, reaching NT$79.74 billion, or about $2.72 billion.

- 3D Systems ( DDD ) was staying near its $9.46 per share session low that followed analysts at JP Morgan Friday lowering their investment recommendation for the company's stock to Underweight from Neutral while also setting a $11 price target.

- Helios and Matheson Analytics ( HMNY ) fell hard on Friday, sinking more than 7%, after saying its shareholders recently voted to allow it to issue up to 500 million shares of its common stock, up from the company's current authorization limit of 100 million shares. The proposal received support from 10.74 million - or about 91.3% - of the 11.76 million total shares cast at Monday's meeting, according to Form 8-K filing Thursday night.

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: TSM , DDD , HMNY , GOOG , GOOGL

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