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

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Top Tech Stocks

MSFT +0.62%

AAPL -1.75%

IBM -0.20%

CSCO +0.04%

GOOG -0.83%

Technology stocks still were declining this afternoon, with the shares of tech stocks in the S&P 500 falling almost 0.5% while the Philadelphia Semiconductor Index was dropping nearly 1.5%.

Among technology stocks moving on news:

(-) STMicroelectronic NV ( STM ) dropped 3%. The chipmaker said it repurchased 326,717 of its ordinary shares, equal to 0.04% of its outstanding stock, between March 18 to 22 at the weighted average purchase price of EUR14.467 apiece, or about EUR4.73 million overall.

In other sector news:

(-) ASML Holding NV ( ASML ) declined 1% 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.

(-) Akamai Technologies ( AKAM ) declined Monday, losing 3%, 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.

(-) 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 build and sell electric cars in China.

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 , ASML , AKAM , NCTY

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