Top Tech Stocks
MSFT +0.01%
AAPL +0.36%
IBM +0.31%
CSCO +0.58%
GOOG +0.52%
Technology stocks were edging higher in recent trade, with the shares of tech stocks in the S&P 500 adding just over 0.1% in value while the Philadelphia Semiconductor Index also was rising nearly 0.2%.
Among technology stocks moving on news:
(+) Xerox ( XRX ) was hanging on to a small gain shortly before Tuesday's closing bell, rising nearly 1%, after CRN reported the imaging company plans to close roughly half of its 186 Xerox Business Solutions field offices throughout the United States. The company will also lay off an unspecified number of its XBT support staff while sales teams will work remotely, CRN said, citing sources familiar with the matter.
In other sector news:
(+) Micro Focus International plc ( MFGP ) rose nearly 9% in US trading after the British collaboration and data management software firm said in a regulatory filing it repurchased 170,677 of its ordinary shares during Monday trading at the London Stock Exchange, paying a volume-weighted average price of GBP17.37 each, or about $22.65 a share.
(+) Alphabet ( GOOG ) was fractionally higher after saying its Google unit plans to to acquire cloud migration company Alooma, which helps other companies move data from multiple sources to a single data warehouse. Financial terms of the proposed transaction were not disclosed.
(-) Leidos Holdings ( LDOS ) slipped almost 2% after the cybersecurity company Tuesday reported non-GAAP Q4 net income of $1.10 per share, up from $0.87 per share during the same quarter in 2017 and also beating the $1.07 per share Capital IQ consensus.
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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.
