Technology Sector Update for 04/18/2019: WIT,MDSO,TEAM

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Technology stocks were climbing Thursday afternoon, with the shares of tech companies in the S&P 500 rising 0.1% in value while the Philadelphia Semiconductor Index was also up 0.1%.

Among technology stocks moving on news:

(+) Wipro Ltd ( WIT ) was 3.5% higher Thursday. The Indian technology consulting company said its board of directors Tuesday authorized the repurchase of up to 323 million of its shares up to a maximum of INR105 billion, or about $1.5 billion.

In other sector news:

(+) Medidata ( MDSO ) climbed 3% after Guggenheim began coverage of the cloud-based services company with a buy rating and a $92 price target.

(-) Atlassian ( TEAM ) dropped 9% after the software company projected non-IFRS fiscal Q4 net income of about $0.16 per share, trailing the Capital IQ consensus by $0.03 per share.

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: WIT , MDSO , TEAM

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