Technology Sector Update for 06/27/2019: COUP,BB,BB.TO

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Top Tech Stocks

MSFT +0.29%

AAPL +0.11%

IBM +0.25%

CSCO -1.67%

GOOG -0.03%

Technology stocks inched slightly off their earlier session highs, with the shares of tech stocks in the S&P 500 adding nearly 0.4% in value in late trade while the Philadelphia Semiconductor Index was rising over 1.6%.

Among technology stocks moving on news:

(+) iQIYI ( IQ ) climbed over 10% on Thursday after the online entertainment company said its AI+VR Media Innovation Platform received the Content and Media Innovation Pioneer Award at an industry event in Shanghai overnight. The Mobile World Congress cited the company's combination of artificial intelligence and virtual reality technology as a vehicle for creative processes from concept to distribution in making the award.

In other sector news:

(+) Coupa Software ( COUP ) rose 6% on Thursday after Keybanc raised its price target on the spending management software firm by $9 to $136 a share. The brokerage also reiterated its overweight investment rating on the company's stock.

(-) Blackberry Ltd ( BB ) retreated again on Thursday, falling over 2%, after saying it complies with all appliable US and Canadian rules in response to reports the enterprise software firm was at risk of a US Securities and Exchange Commission enforcement action when it included several non-standard metrics with its fiscal Q1 financial results on Wednesday. Also Thursday, RBC Capital Markets lowered its price target on Blackberry shares by $1 to $9 a share while maintaining its sector perform stock rating.

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: IQ , COUP , BB

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