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Technology Sector Update for 03/27/2019: AMRC,NTWK,AAPL,QCOM,RPD


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Top Tech Stocks

MSFT -0.80%

AAPL +0.99%

IBM -0.48%

CSCO -0.21%

GOOG -0.87%

Technology stocks were limiting their drop in late trading, with the shares of tech stocks in the S&P 500 losing over 0.4% in value this afternoon while the Philadelphia Semiconductor Index was off about 1.4%.

Among technology stocks moving on news:

(-) Ameresco ( AMRC ) was slightly lower in late trade, paring a 3% decline earlier this afternoon. The company Wednesday said it has won eight solar-energy project awards through the Solar Massachusetts Renewable Target program. The projects are expected to produce a combined 12,000 kilowatts while keeping around 10,300 metric tons of greenhouse gas emissions out of the atmosphere.

In other sector news:

(+) NetSol Technologies ( NTWK ) climbed more than 1% after Wednesday announcing a strategic partnership with Drivemate, a Thai car-sharing rental platform. In addition to providing $500,000 in funding to the their joint OTOZ Mobility Innovation Lab, NetSol will also provide Drivemate with $1.3 million in technical services over the next two years in exchange for a 30% equity stake.

(+) Apple ( AAPL ) was fractionally higher on Wednesday after the tech giant received split decisions before the U.S. International Trade Commission. In one decision, the federal agency ruled Apple did not infringe on a Qualcomm ( QCOM ) patent with its battery-saving iPhone feature. But an ITC administrative judge earlier Tuesday also issued a non-binding recommendation supporting an import ban of certain iPhone devices made in China. That decision now goes to the six-member commission for discussion.

(-) Rapid7 ( RPD ) was down over 4% this afternoon, giving back a small gain soon after Wednesday's opening bell. Mizuho Securities began coverage of the cyber-risk analytics company with a buy stock rating and a $59 price target.

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: AMRC , NTWK , AAPL , QCOM , RPD




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