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Technology Sector Update for 10/11/2018: LTHM,SCOR,AAPL,ATOM


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Top Tech Stocks

MSFT +0.55%

AAPL -0.10%

IBM -1.49%

CSCO -2.50%

GOOG +0.65%

Technology stocks were unable to carry their early gains into Thursday's close, with the shares of tech stocks in the S&P 500 shedding nearly 0.7% in value while the Philadelphia Semiconductor Index also slipped almost 0.7%.

Among technology stocks moving on news:

(-) Livent ( LTHM ) struggled Thursday in its public market debut, falling as much as 6% after the company looking to feed the lithium rechargable battery industry with its primary ingredient priced its initial public offering of stock at $17 a share, lagging the expected $18-to-$20 price range. The stock opened trading this morning around $16.50 a share, down almost 3%, and quickly fell to a session low of $16.00 a share within the first 20 minutes. The early dropped sparked modest buying interest, lifting the stock to less than 0.1% of its IPO price at $16.90 a share, before drifting nearly 4% lower again throughout afternoon trading.

In other sector news:

(+) comScore ( SCOR ) has climbed over 4% higher on Thursday after analysts at Aegis Capital began coverage of the data analytics company with a Buy stock rating and a $29 price target.

(+) Apple ( AAPL ) edged lower Thursday afternoon, falling nearly 1% in late trade, after the tech giant signed a license agreement with Dialog Semiconductor securing selected power management technologies to support its future chip-making research and development in the future. The deal also includes the transfer of certain assets and over 300 Dialog employees are expected to soon start work at Apple.

(-) Atomera ( ATOM ) plunged as much as 23% during Thursday trading after pricing a $12.5 million public offering of 2.6 million common shares at $4.75 each, trailing Wednesday's closing price for the stock by about 24%. Underwriters participating in the offering also received a 30-day option to buy up to 393,750 additional shares. The semiconductor components company will use net proceeds for working capital and general corporate purposes.

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: LTHM , SCOR , AAPL , ATOM



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