Technology Sector Update for 05/24/2017: CMCM,GOOG,GOOGL,AAPL,UNXL,OOMA

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Top Tech Stocks

MSFT -0.18%

AAPL -0.37%

IBM +0.10%

CSCO -1.39%

GOOG +0.39%

Technology stocks were narrowly higher this afternoon, with shares of tech companies in the S&P 500 increasing just 0.1%.

In company news, computer conglomerate Cheetah Mobile ( CMCM ) Inc. enjoyed a nearly 7% advance on Wednesday, topping out at $11.55 a share after the company earlier launched its Live.me live broadcasting and social media platform in India.

Cheetah previously rolled out Live.me in the United States - reaching No. 1 on Google (GOOG,GOOGL) Play and ranking in the top three in Apple's ( AAPL ) App Store - as well as in Japan, Taiwan, Vietnam, Indonesia and the Middle East.

In other sector news,

(+) UNXL, (+4.3%) CEO Jeffrey Hawthorne on Monday buys 12,537 shares on open market, increasing stake to 318,014 shares. CFO Christine Russell and four board members also acquire a combined 97,741 shares over the past week.

(-) OOMA, (-26.9%) Q1 revenue rises 13% to $27.6 mln from the year-ago period but still comes in short of the $28.14 mln consensus. Non-GAAP net loss of $0.02 per share is penny smaller than the Street view. Guidance largely lags analyst means.

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: CMCM , AAPL , GOOG , GOOGL ,

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