Technology Sector Update for 11/14/2018: MRIN,FSNN,SNAP

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Top Tech Stocks

MSFT -0.97%

AAPL -2.83%

IBM -0.13%

CSCO -0.47%

GOOG +0.13%

Technology stocks were falling, with shares of tech stocks in the S&P 500 losing more than 0.9% in value. The Philadelphia Semiconductor Index was rising 0.6% this afternoon.

Among technology stocks moving on news:

(+) Marin Software ( MRIN ) jumped 13% on Wednesday after the marketing software company reported late Tuesday that its Q3 non-GAAP net loss narrowed to $0.77 from a loss of $0.95 a year ago.

In other sector news:

(-) Fusion ( FSNN ) fell 1.5% after rallying earlier, after the cloud services company reported a smaller-than-estimated adjusted Q3 net loss and revenue exceeded Wall Street expectations. Excluding one-time items, Fusion had a non-GAAP net loss of $0.14 per share, beating the Capital IQ consensus that had been expecting a $0.16-per-share adjusted loss. Revenue climbed 28% over year-ago levels to $143.4 million from $112.4 million and topping the analyst mean.

(-) Snap ( SNAP ) retreated Wednesday, falling almost 5%, following reports the technology and camera company was subpoenaed by the US Department of Justice and the Securities and Exchange Commission over its disclosures to investors prior to its March 2017 initial public offering of stock. Snap confirmed the probe when contacted by Reuters, adding it has responded to the subpoenas.

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: MRIN , FSNN , SNAP

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