Technology Sector Update for 11/05/2018: NSSC,STM,SOGO

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Top Tech Stocks

MSFT +0.65%

AAPL -3.58%

IBM +4.15%

CSCO +0.92%

GOOG -3.01%

Technology stocks were retreating in recent trading, with shares of tech stocks in the S&P 500 losing more than 0.9% in value while the Philadelphia Semiconductor Index was falling almost 1.9%.

Among technology stocks moving on news:

(+) Napco Security Technologies ( NSSC ) rose 3.7% on Monday after the maker of electronic intrusion security equipment and software reported better-than-expected fiscal Q1 revenue and improved net income compared with the same quarter last year.

In other sector news:

(-) STMicroelectronics ( STM ) declined Monday, sinking almost 4%. The specialty chipmaker authorized a new stock buyback program for up to $750 million to be carried out over the next three years.

(-) Sogou ( SOGO ) fell as much as 9% on Monday before recovering most of the losses, after the Chinese language search engine company missed analyst estimates with its Q3 revenue, lagging the Capital IQ consensus by $4.6 million. The company also said it is expecting Q4 revenue in a range of $292 million to $307 million compared with the $352 million analyst mean.

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: NSSC , STM , SOGO

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