Technology Sector Update for 07/15/2019: SYMC,AVGO,ZM,MFGP

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Top Tech Stocks

MSFT -0.13%

AAPL +0.69%

IBM +0.01%

CSCO -0.05%

GOOG -0.06%

Technology stocks were firming in recent trading, with the shares of tech stocks in the S&P 500 adding around 0.5% in value while the Philadelphia Semiconductor Index was rising 0.7%.

Among technology stocks moving on news:

(-) Symantec ( SYMC ) was down 15.3% following reports the cyber-security firm and Broadcom ( AVGO ) have walked away from talks about a potential buyout, with CNBC, citing people familiar with the talks, saying Symantec won't accept less than $28 per share.

In other sector news:

(+) Zoom Video Communications ( ZM ) climbed 6.4% after Stephens began analyst coverage of the video communicatons company with an overweight stock rating and a $115 price target.

(-) Micro Focus International ( MFGP ) dropped more than 6% after a new regulatory filing showed Kevin Loosemore, executive board chairman at the British infrastructure software firm, last week sold a combined 650,000 shares at GBP17.77 apiece, or about GBP11.55 million. In one transaction, he sold 215,658 shares at an average of GBP18.61 each at the London Stock Exchange followed the next day by the sale of 435,342 shares at an average of GBP17.36 each.

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: SYMC , AVGO , ZM , MFGP

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