Technology

Technology Sector Update for 02/13/2017: DRAM,TSEM,INOV

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Technology stocks were climbing on Monday, with shares of tech companies in the S&P 500 adding almost 0.5% in value.

In company news, Dataram ( DRAM ) was slightly higher Monday afternoon, with shares of the data-storage company see-sawing between small gains and losses after giving back a prior advance that followed it late last week saying it signed an agreement that will keep Anthony Lougee in his current position as chief financial officer for up to six months after the company completes its upcoming acquisition of US Gold Corp.

Under terms of an incentive agreement set to become on effective on Thursday, Feb. 16, Lougee is slated to stay on as CFO of the post-merger company for up to six months or until Dataram can hire his replacement - whichever is shorter - when he is expected to become chief financial officer of the combined companies' Dataram subsidiary, according to an 8-K regulatory statement by the company late Friday.

DRAM shares were up 2.4% at $1.59 this afternoon, drifting away from their session high earlier today at $1.63 a share.

In other sector news,

(+) TSEM, (+1.9%) Q4 EPS of $0.52 beats Capital IQ consensus by $0.04 per share. Revenue climbs 34% over year-ago levels to $340.4 mln, roughly in-line with $339.93 mln consensus. Mid-point of Q1 revenue outlook expecting 19% rise over last year to $330 mln also in-line with Street view.

(-) INOV, (-10.2%) Cut to Underperform from Neutral at Bank of America Merrill Lynch.

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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