Technology Sector Update for 03/15/2019: STM,MRAM,AVGO,KOPN

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Top Tech Stocks

MSFT +1.76%

AAPL +1.65%

IBM +0.59%

CSCO +1.34%

GOOG -0.12%

Technology stocks were sharply higher in late trade, with the shares of tech stocks in the S&P 500 adding over 1.4% in value while the Philadelphia Semiconductor Index was soaring nearly 2.9%.

Among technology stocks moving on news:

(+) STMicroelectronics ( STM ) rose nearly 6% after the chipmaker earlier Friday hosted the official launch of the Nano2022 program, a five-year strategic partnership with the French government and the private sector targeting research and development of innovative semiconductor technologies with a special emphasis on making the move from prototypes to volume production.

In other sector news:

(+) Broadcom ( AVGO ) rose 8% after the specialty chipmaker reported better-than-expected non-GAAP Q4 net income of $5.55 per share, up from $5.12 per share during the year-ago period and beating the Capital IQ consensus by $0.32 per share.

(-) Everspin Technologies ( MRAM ) fell 5% after late Thursday reporting a 21% year-over-year increase in Q4 revenue, rising to $12.3 million from $10.1 million last year and beating the Capital IQ consensus by $300,000.

(-) Kopin Corp ( KOPN ) dropped over 23% on Friday after the wearable technology company priced an $8 million public offering of over 7.27 million shares at $1.10 apiece, representing at 26.2% discount to Thursday's closing price.

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: STM , AVGO , MRAM , KOPN

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