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

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Technology stocks were firming in recent trading, with the shares of tech stocks in the S&P 500 adding 0.2% in value while the Philadelphia Semiconductor Index was rising 1.4%.

Among technology stocks moving on news:

(+) The Peck Company ( PECK ) was more than 2% higher in recent trade, falling off a nearly 29% advance soon after Thursday's opening bell, after late Wednesday announcing an initial agreement to build a $17 million portfolio of solar photovoltaic arrays that will generate 7 megawatts for an unnamed, existing customer. Work will begin next month with completion expected in early 2020, the company said.

In other sector news:

(+) Coupa Software ( COUP ) rose 4% 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 5%, after MarketWatch said the Canadian enterprise software firm was at risk of a US Securities and Exchange Commission enforcement action when it included several non-standard metrics while reporting its fiscal Q1 financial results on Wednesday. The company on Thursday said its financial disclosures comply with US laws that apply to Canadian issuers and it uses non-GAAP measures to give shareholders more information about its performance. 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: PECK , COUP , BB

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