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

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Top Tech Stocks

MSFT -0.23%

AAPL -0.51%

IBM -1.48%

CSCO -0.88%

GOOG -0.37%

Technology stocks were outperforming most other sectors on Friday, with shares of tech companies in the S&P 500 limiting their slide to less than 1.0% while the Philadelphia semiconductor index was declining slightly more than 0.8% decline.

Among technology stocks moving on news:

- Helios and Matheson Analytics ( HMNY ) fell hard on Friday, sinking more than 7% to a session low of $7.75 a share, after the "big data" analytics company said shareholders recently authorized it to issue up to 400 million additional shares of its common stock. The proposal amending the company's charter reflecting the increase in authorized shares to 500 million received support from 10.74 million - or about 91.3% - of the 11.76 million total shares cast, according to Form 8-K filing Thursday night. The move was required to complete the company's purchase of a majority stake in MoviePass announced last November, which saw it issue $100 million of Series A and Series B notes convertible into common stock at $12.06 a share within two years of the transaction closing. The approved increase also will assist Helios and Matheson in issuing stock to employees through its incentive program.

In other sector news:

+ Taiwan Semiconductor ( TSM ) still was narrowly higher after the company reported a 4.1% increase in revenue to NT$79.74 billion, or about $2.72 billion, during January compared with year-ago levels.

- 3D Systems ( DDD ) was staying near its $9.46 per share session low after analysts at JP Morgan Friday cut their investment recommendation for the company's stock to Underweight from Neutral and set an $11 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.

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This article appears in: Technology , Commodities
Referenced Symbols: HMNY , TSM , DDD

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