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

Shutterstock photo

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.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Technology , Commodities
Referenced Symbols: CMTL , MEI , AMZN , GOOG

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?