Technology

Technology Sector Update for 01/23/2017: PERI,HMNY,QCOM,AAPL

Top Tech Stocks

MSFT +0.37%

AAPL +0.02%

IBM +0.19%

CSCO +0.60%

GOOG +1.61%

Technology stocks were edging higher during late Monday trading, reversing narrow losses earlier today and shares of tech companies in the S&P 500 rising about 0.1%.

In company news, Perion Network ( PERI ) was holding on to a moderate gain late Monday after the software firm today said it has selected Doron Gerstel as its new CEO, effective April 2.

Perion will be the fifth company Gerstel has led as chief executive since 1999. He succeeds Josef Mandelbaum, who announced in late September he planned to step down in coming months.

PERI shares were up more than 3% at $1.62 apiece, or just a penny under their session high.

In other sector news,

(+) HMNY, Board chairman Theodore Farnsworth named CEO, replacing Pat Krishnan, who is staying with Helios and Matheson in the newly created chief innovation officer position.

(-) QCOM, Asserts a complaint by Apple ( AAPL ) alleging the specialty chipmaker had been "charging royalties for technologies they have nothing to do with" was baseless. Cut to Neutral at Instinet while CLSA reduces investment rating to Underperform from Buy.

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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