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Technology Sector Update for 12/04/2018: CMTL, MEI, GOOG


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Top Tech Stocks

MSFT, -2.5%

AAPL, -4.2%

IBM, -2.9%

CSCO, -2.6%

GOOG, -4.5%

Technology stocks extended their losses ahead of Tuesday's closing bell, with shares of tech companies in the S&P 500 tumbling nearly 4%.

In company news, Comtech Telecommunications ( CMTL ) fell almost 5% after it said its New York-based subsidiary, Comtech PST Corp., won contracts totaling $4.2 million for solid-state, high-power RF amplifiers from a "leading provider" of aviation electronics and communication systems. The orders were bagged during the company's first quarter of fiscal 2019, it said in a statement.

In other sector news,

(+) Methode Electronics ( MEI ) Baird upgrades shares to outperform from neutral. The average rating among analysts is a buy, with an average price target of $50.

(-) Alphabet (GOOG, GOOGL) Launches Chrome browser plug-in to help people avoid shopping on Amazon ( AMZN ).The plug-in, named Block Amazon For Me, prevents users from accessing a range of Amazon-owned websites when installed on Chrome.

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 , MEI , AMZN , GOOG



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