Top Tech Stocks
Technology stocks were weakening late Thursday, with shares of tech companies in the S&P 500 ( XLK ) dipping 0.1% while the Philadelphia semiconductor index ( SOX ) was off almost 0.1% in recent trade.
In industry news,
As expected, the Republican-controlled Federal Communications Commission Thursday voted 3-to-2 on party lines to repeal so-called net neutrality rules adopted in 2015 intended to keep telecom companies from speeding up or slowing down online traffic from specific websites and applications. The agency also eliminated a rule barring providers from prioritizing their own content. The decision generated fierce opposition in some circles, with those advocates next expected to take their fight to the federal courts.
Among technology stocks moving on news today:
- Criteo SA ( CRTO ) dropped to a record low of $22 a share on Thursday after the online marketing company significantly lowered its FY18 revenue forecast to reflect the impact of new ad-blocking software developed by Apple ( AAPL ) on sales. Apple's latest operating system contains its Intelligent Tracking Prevention software, which Criteo will likely reduce its revenue next year by 22% compared with prior projections unless it can develop "an alternative sustainable solution" to circumvent the Apple software.
In other sector news:
+ Messaging software reseller OneHorizon Group ( OHGI ) soared nearly 200% today, reaching a session high of $3.26 a share after saying it acquired a majority stake in 123Wish, a subscription-based social media platform allowing users to participate in personalized dream experiences with artists, athletes and other celebrities. Financial terms were not disclosed, although OneHorizon said the deal should add to its per-share earnings following an expected Q1 close.
- Social Reality (SRAX) shares retreated from early gains Thursday, reaching a session high of $5.66 apiece before falling into the red, after the digital advertising company today disclosed plans to develop a data-management platform compensating individuals for the sale and distribution of their consumer data.