Technology Sector Update for 02/15/2019: COMM,ARRS,FTNW,TLND,MRIN

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Top Tech Stocks

MSFT +0.91%

AAPL -0.37%

IBM +0.97%

CSCO +2.05%

GOOG -0.89%

Technology stocks were moderately higher in recent trading, with the shares of tech stocks in the S&P 500 adding over 0.5% in value while the Philadelphia Semiconductor Index was rising slightly less than 0.3%.

Among technology stocks moving on news:

(+) CommScope Holding Co ( COMM ) rose almost 2% after the networking equipment company said it has named Bruce McClelland, previously the chief executive at communications equipment manufacturer Arris International ( ARRS ) prior to its acquisition by CommScope, as its new chief operating officer. He replaces Morgan Kurk, who will become chief technology officer of the combined companies.

In other sector news:

(+) Talend SA ( TLND ) climbed 21% on Friday after the software firm reported a small-than-expected Q4 net loss of $0.13 per share, more than halving its $0.28 per share net loss during the year-ago quarter and beating the Capital IQ consensus by $0.01 per share.

(-) FTE Networks ( FTNW ) dropped 15% after the smart network connectivity company Friday said it received an extra $13.6 million in new funding that was used to pay off short-term debt and other payables. Lateral Investment Management, which holds most of the company's senior debt, provided the majority of the funding.

(-) Marin Software ( MRIN ) was sinking 31% in recent trading. The software firm said its Q4 sales fell 11% year over year to $15.8 million while the company also reported a net loss of $0.48 per share compared with a net loss of $1.28 during the final three months of 2017.

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: COMM , ARRS , TLND , FTNW , MRIN

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