Technology Sector Update for 03/25/2019: AKAM,ASML,NCTY

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Top Tech Stocks

MSFT +0.08%

AAPL -1.38%

IBM -0.59%

CSCO -0.74%

GOOG -1.18%

Technology stocks were declining in recent trading, with the shares of tech companies in the S&P 500 falling 0.6% while the Philadelphia Semiconductor Index was dropping 1.7%.

Among technology stocks moving on news:

(-) Akamai Technologies ( AKAM ) declined Monday, losing 3.6%, after Deutsche Bank cut its stock rating on the cloud services company to sell from hold and also lowered its price target on Akamai shares by $6 to $58 each.

In other sector news:

(-) ASML Holding NV ( ASML ) declined 1.2% after the chipmaker said it repurchased 29,000 of its shares between March 18 to 22 under its EUR2.5 billion stock buyback program announced in January 2018.

(-) The9 ( NCTY ) was sinking this afternoon, giving back a 52% advance earlier Monday that followed the online game developer announcing plans to create a joint venture with Faraday&Future to to build and sell electric cars in China. Under the terms of the agreement, The9 will make capital contribution of up to $600 million in three equal installments to the JV.

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: AKAM , ASML , NCTY

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