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Technology Sector Update for 07/10/2019: SGH,VISL,MFGP


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Top Tech Stocks

MSFT +0.75%

AAPL +1%

IBM +1.08%

CSCO +1.59%

GOOG +0.86%

Technology stocks were higher on Wednesday, with the shares of tech stocks in the S&P 500 rising nearly 0.9% while the Philadelphia Semiconductor Index was climbing almost 1.2%.

Among technology stocks moving on news:

(+) SMART Global Holdings ( SGH ) was extending its Wednesday advance, rising nearly 21%, after the memory chipmaker announced a pair of acquisitions that are expected to immediately boost its per-share net income while adding embedded computing to its product portfolio. In one deal, SMART Global will pay $80 million in cash for privately held Artesyn Embedded Computing and it also will swap $12 million in cash and stock for Inforce Computing.

In other sector news:

(+) Vislink Technologies ( VISL ) surged Wednesday, rising 316%, after the microwave communications equipment company said it received a $2.8 million contract from the US Army for the supply of intelligence, surveillance and reconnaissance receiver devices.

(-) Micro Focus International plc ( MFGP ) dropped 10% this afternoon. Credit Suisse reiterated its underperform stock rating on the infrastructure software firm and raised its price target on the company's shares by GBP0.47 to GBP13.87.

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: SGH , VISL , MFGP



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