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

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

In company news, Comtech Telecom ( CMTL ) finally gave back its small gain, with shares of the networking equipment company turning lower late today after it said received a $13.4 million follow-on hardware order from the U.S. Army.

The funded order was received during the company's fiscal Q1 that begun August 1 and includes its secret internet protocol router as well as its non-secure internet protocol router access point and its very small aperture terminal satellite systems. Overall, Comtech has received $62.8 million in funded orders through the Warfighter Information Network/Tactical program and has $28.2 million remaining under its $91 million program ceiling.

CMTL shares were down 0.4% at $10.71 apiece, earlier topping out today at $10.92 a share.

In other sector news,

(+) XGTI, Receives $200,000 order from a state police agency located in the Mid-Atlantic region for its Airborne Video Downlink System.

(-) FALC, 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: CMTL , FALC

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