Technology Sector Update for 03/18/2019: PXLW,OKTA,CDAY

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Top Tech Stocks

MSFT +0.80%

AAPL +0.73%

IBM +0.50%

CSCO +0.41%

GOOG +0.03%

Technology stocks were narrowly higher in recent trading, with the shares of tech companies in the S&P 500 adding over 0.1% in value while the Philadelphia Semiconductor Index was falling more than 0.4% this afternoon.

Among technology stocks moving on news:

(+) Pixelworks ( PXLW ) advanced Monday, rising 6.6%, after the video processing chipmaker announced an independent software vendor agreement with Qualcomm ( QCOM ), with the companies working together on adapting Pixelworks' Soft Iris display calibration software with Qualcomm's Snapdragon 855 mobile platform. The pact also contemplates additional optimizations for other Snapdragon platforms in the future.

In other sector news:

(+) Okta ( OKTA ) climbed 3% after an upgrade of the identity software firm at Goldman Sachs to buy from neutral. The firm also raised its price target for Okta shares by $14 to $94 apiece.

(-) Ceridian HCM Holding ( CDAY ) fell 2% after late Friday disclosing plans by Thomas H. Lee Partners to sell 11 million shares of the employee benefits management software company's common stock. The private equity firm also issued a 30-day option to underwriters to buy up to 1.65 million additional shares, which if fully exercised, would reduce its equity stake in Ceridian to 35% from 44.1% currently.

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: PXLW , QCOM , OKTA , CDAY

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