Technology Sector Update for 11/27/2018: MXIM,AAPL,SPCB,UTX,BOSC

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Top Tech Stocks

MSFT +0.39%

AAPL -0.28%

IBM +0.18%

CSCO +1.16%

GOOG -0.44%

A late recovery carried technology stocks to a small advance as a group on Tuesday, with the shares of tech stocks in the S&P 500 adding almost 0.2% in value while the Philadelphia Semiconductor Index also closed nearly 0.2% higher this afternoon.

Among technology stocks moving on news:

(+) Maxim Integrated Products ( MXIM ) was nearly 5% higher late Tuesday, retracing most of a nearly 6% mid-morning gain that followed S&P Dow Jones Indices Monday night saying the specialty chipmaker will replace Aetna ( AET ) in the S&P 500 index prior to the start of regular-session trading on Monday, Dec. 3. CVS Health Corp ( CVS ) is expected to wrap up its merger with Aetna on Wednesday, ending the health care insurance company's tenure trading on the New York Stock Exchange, pending completion of final closing conditions.

In other sector news:

(-) Apple ( AAPL ) was down almost 1% in Tuesday trading after analysts at RBC Capital Markets lowered their price target for the tech giant by $5 to $235 a share and also trimmed its earnings and revenue estimates for the next few quarters, citing "recent data points related to iPhone demand."

(-) SuperCom ( SPCB ) was down almost 1% Tuesday afternoon, giving back a more than 7% advance for the Israeli cyber-security technologies company that followed it saying it won a new project from the government of an unidentified European country to install its PureSecurity electronic monitoring suite for use in house-arrest cases. The award still is subject to a customary standstill waiting period prior to a formal contract signing. Financial terms of the new project were not disclosed.

(-) United Technologies (UTX) slipped as much as 6% on Tuesday after confirming plans to split into the three independent companies as the company late Monday also completed its $30 billion acquisition of Rockwell Collins.

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: MXIM , CVS , AAPL , SPCB

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