Technology Sector Update for 04/21/2017: AAPL, BA, GOOGL, STV, EFII, GOOG

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Top Tech Stocks

MSFT +1.39%

AAPL -0.29%

IBM -1.02%

CSCO -0.06%

GOOG +0.10%

Technology stocks continued to edge lower this afternoon, with share of tech companies in the S&P 500 declining by about 0.3%.

In company news, Apple ( AAPL ) still was underwater late in Friday trading, with shares of the tech giant sinking about 0.2% amid reports it has been talking with Boeing ( BA ) about backing an upcoming satellite project by the aerospace specialist.

Talk of a possible Apple-Boeing pairing comes after Bloomberg said Apple recently hired a pair of satellite experts from Google (GOOGL,GOOG) to work on a special project within the company. The rumor also received some mileage at a recent satellite conference where Apple was said to getting behind a Boeing project to launch 1,000 satellites for broadband internet access.

Bloomberg also said Apple's interest in satellite technology has been building for some time, noting the company in 2015 purchased Aether Industries LLC, which specializes in "near-space technology."

In other sector news,

(+) STV, Climbs to a 16-month high after declaring a special dividend of $1.50 per ordinary share, payable to shareholders of record on May 31.

(-) EFII, Lowers Q2 earning outlook by $0.02 from its prior guidance to a new range of $0.54 to $0.60 per share and trailing the Capital IQ consensus by at least $0.03 per share. Also sees revenue in a range of $244 million to $250 mln compared with the $260.80 mln consensus estimate.

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: AAPL , BA , GOOGL , EFII

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