Technology

Technology Sector Update for 01/04/2018: INTC,MARK,XGTI

Top Tech Stocks

MSFT +1.09%

AAPL +0.32%

IBM +2.04%

CSCO +0.45%

GOOG +0.51%

Technology stocks were trending higher Thursday, with shares of tech companies in the S&P 500 adding more than 0.6% while the Philadelphia semiconductor index was posting a more than 0.7% gain.

Among technology stocks moving on news today:

- Intel ( INTC ) retreated again on Thursday, falling almost 6% to a session low of $42.69 a share, as the chip-making giant continues to grapple with the fallout from reports its chips dating as far back as 1995 are susceptible to hacking because of a design flaw. The company also responded to accusations CEO Brian Krzanich in November sold 3,180 of his shares prior to the design flaw becoming public. But an Intel spokeswoman said there was no wrongdoing by the executive, telling Marketwatch the Nov. 1 stock sale was part of a 10b5-1 plan adopted the prior month.

In other sector news:

+ Remark Media ( MARK ) opened at a record high on Thursday and rose as much as 13% to a best-ever $11.83 a share after the company said its KanKan subsidiary has launched a new credit-related FinTech product designed to improve banks' risk-management in determining a prospective client's credit quality.The company has also said it received several contract awards recently from major Chinese banks, which it expects to generate millions of dollars in revenue.

- XG Technology, Inc ( XGTI ) was fractionally lower Thursday, dropping less than 1% to a session low of $1.58 a share, after the wireless video company reported receiving an order worth more than $1 million from French broadcaster AMP VISUAL TV. The order includes the company's Vislink HCAM 4K UHD systems, UltraReceivers and FocalPoint camera control equipment with delivery scheduled to begin tomorrow, Jan. 5.

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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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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