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Technology Sector Update for 07/10/2018: GOOG,GOOGL,IMOS,XRX


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Top Tech Stocks

MSFT +0.39%

AAPL +0.09%

IBM flat

CSCO +0.05%

GOOG +0.17%

Tech stocks were narrowly higher ahead of Tuesday's opening bell.

Among technology stocks moving on news:

+ Alphabet (GOOG,GOOGL) was narrowly higher Tuesday morning, rising about 0.2% in pre-market trading , after its YouTube subsidiary said it was committing $25 million to combat the proliferation of "fake news." The video sharing site plans to develop new product features in partnership with news organizations and experts from around the world and will also set aside funding across around 20 global markets supporting news organizations in building sustainable video operations. The site also said it will "significantly" expand the number of employees working on supporting news publishers.

In other sector news:

= ChipMOS Technologies ( IMOS ) was steady in Tuesday's early market after a 9.9% rise in June sales over year-ago levels to NTD1.55 billion, or about $50.9 million, although the specialty chipmaker's Q2 sales slipped 1.1% year-over-year to NTD4.49 billion, or about $147.6 million. The company also said it continues to benefit from strong demand from smartphone-related products, combined with an increase in average selling prices of DDIC earlier in Q2. Its DDIC wafer test business is operating at full capacity with increasing demand led by TDDI for smartphones, it said.

= Xerox Corp ( XRX ) was unchanged early Tuesday after Kouichi Tamai, the president of its Fuji Xerox joint venture, tried to reassure investors by telling Reuters there will be no breakup of the partnership despite rising tensions between the companies following their failed merger bid. "I'm confident a breakup will not happen because that wouldn't make sense (for Xerox) in terms of the energy, money and time it would take to do so," Tamai told the news service during an interview. Xerox last month said it may not renew its technology agreement with the Japanese firm after being sued by Fujifilm last month after abandoning their $6.1 billion merger proposal.

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: IMOS , XRX , GOOG , GOOGL



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