Technology Sector Update for 11/08/2018: ALRM,CYBR,COMM,ARRS

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Top Tech Stocks

MSFT -0.98%

AAPL -0.73%

IBM -0.02%

CSCO +0.45%

GOOG -1.44%

Technology stocks were lower in recent trading, with shares of tech stocks in the S&P 500 losing about 0.7% in value while the Philadelphia Semiconductor Index was falling 0.4%.

Among technology stocks moving on news:

(+) Alarm.com Holdings ( ALRM ) rose 4% on Thursday after the cloud-based home protection applications company reported improved Q3 earnings compared with year-ago levels and beating Wall Street expectations.

In other sector news:

(+) CyberArk Software ( CYBR ) touched a record high on Thursday, rising to a best-ever $84.21, after reporting adjusted Q3 net income of $0.48 per share, exceeding the consensus by $0.21 per share. The software firm also raised its FY18 forecast above Street views.

(-) CommScope Holding ( COMM ) dropped to its lowest price since 2014, falling 23%, after missing analyst projections with its Q3 financial results and saying it is buying telecom equipment maker Arris International ( ARRS ) for $7.4 billion. Under terms of the proposed transaction, CommScope will pay $31.75 in cash for each Arris share, representing a 14.2% premium over Wednesday's closing price.

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: ALRM , CYBR , COMM ,

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