Markets

Sector Update: Tech Stocks Narrowly Higher; EU Reportedly Preparing Anti-Trust Probe of Qualcomm

Top Tech Stocks

MSFT -0.20%

AAPL -0.36%

IBM +1.17%

CSCO +0.85%

GOOG -0.45%

Technology stocks were narrowly higher with shares of technology companies in the S&P 500 rising about 0.2% this afternoon.

In company news, Qualcomm ( QCOM ) was holding on to a fractional gain late Tuesday, with the mobile chipmaker overcoming a report it may face a European antitrust investigation linked to a four-year-old complaint by an Nvidia Corp ( NVDA ) subsidiary.

Citing three people familiar with the matter, Reuters reported the EU probe had its origins in a June 2010 complaint by British cell-phone chipmaker Icera accusing QCOM of anti-competitive practices. NVDA acquired Icera the following year.

"The Commission may open a case after the summer," one of the sources told Reuters, declining to be named because of the sensitivity of the matter.

QCOM shares were up about 0.6% at $77.02 shortly before the closing bell today, just off its $7.09 intra-day high. The stock has traded within a 52-week range of $65.47 to $81.97 a share, climbing about 14.4% over the past 12 months.

In other sector news,

(+) DGLY, Continues recent advance as interest grows in providing police officers with wearable cameras since the Aug. 9 fatal police shooting of an unarmed youth in Ferguson, Mo. The stock is now up 226% over the past two weeks through yesterday's close.

(-) ADEP, Reports GAAP net loss of $0.03 per share, expanding on a $0.01 per share loss last year and trailing Street view looking for a $0.02 per share profit. Revenue rises 4% to $14.3 million but still lags the Capital IQ consensus by $1.9 mln.

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.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

NVDA QCOM

Other Topics

Commodities

Latest Markets Videos