Technology Sector Update for 10/17/2016: AMD,XGTI,FALC

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Technology stocks were slightly lower today, with shares of tech companies in the S&P 500 slipping about 0.1% in afternoon trade.

In company news, shares of Advanced Micro Devices ( AMD ) were higher Monday after analysts at Oppenheimer today raised their investment call for the chipmaker's stock to Perform from Underperform, reportedly citing less balance-sheet risk and positive sales momentum.

Advanced Micro is scheduled to report its non-GAAP fiscal Q3 financial results on Thursday night after the regular market close, with analysts, on average, expecting the company to earn $0.02 per share, excluding one-time items, reversing a $0.17 per share adjusted net loss during the same quarter last year. Analysts also are looking for a 10.2% increase in revenue over last year during the three months ended Sept. 24 to $1.06 billion.

AMD shares were edging lower this afternoon at $6.68 apiece, the session low today and giving back a 3.25% advance from earlier today.

In other sector news,

(+) XGTI, (+10.6%) Receives $200,000 order from a state police agency located in the Mid-Atlantic region for its Airborne Video Downlink System. It also wins a $500,000 order from a robotic defense contractor for wireless video transmission modules to be used in military remote ordinance disposal applications.

(-) FALC, (-10.4%) Announces FreeStor system for the hybrid cloud, enabling companies and cloud service providers to use block-based enterprise storage within a hybrid model at public cloud prices.

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: AMD , FALC

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