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Technology Sector Update for 03/14/2019: SMSI,MDB,IDSY


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Top Tech Stocks

MSFT +0.38%

AAPL +1.12%

IBM +0.02%

CSCO +0.46%

GOOG -0.21%

Technology stocks were firming in recent trading, with the shares of tech stocks in the S&P 500 adding 0.3% in value although the Philadelphia Semiconductor Index was falling 0.3%.

Among technology stocks moving on news:

(+) Smith Micro Software ( SMSI ) climbed almost 27% on Thursday after reporting non-GAAP Q4 net income of $0.10 per share, more than trebling its $0.03 per share adjusted profit during the year-ago period and easily surpassing the Capital IQ consensus expecting net income of $0.01 per share for the three months ended Dec. 31, excluding one-time items.

In other sector news:

(+) MongoDB ( MDB ) raced 26% higher after narrowing its adjusted Q4 net loss to $0.17 per share compared with a $0.27 per share loss during the year-ago period a year earlier and beating the Capital IQ consensus expecting a $0.38 per share net loss.

(-) I.D. Systems ( IDSY ) slumped Thursday, sinking nearly 3%, after saying it will be acquiring Pointer Telocation ( PNTR ) for a combination of $140 million in cash and stock. Under terms of the proposed transaction, investors will receive $8.50 in cash and 1.272 shares of I.D. Systems' newly created PowerFleet holding company stock for each Pointer share they own. Abry Partners also will buy $50 million of convertible preferred stock in the combined companies through a deal closing contemporaneously with the Pointer acquisition.

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: SMSI , MDB , IDSY , PNTR




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