Technology

Technology Sector Update for 02/25/2019: NXPI,AMZN,PLAN,DIO,IIVI

Top Tech Stocks

MSFT +0.59%

AAPL +0.71%

IBM +0.37%

CSCO +1.56%

GOOG -0.17%

Technology stocks maintained most of their prior gains this afternoon, with the shares of tech companies in the S&P 500 adding more than 0.6% in value while the Philadelphia Semiconductor Index was rising nearly 1.2%.

Among technology stocks moving on news:

(+) NXP Semiconductors NV ( NXPI ) advanced about 3% on Monday after the chipmaker unveiled the world's first microcontroller-based voice control qualified to work with Amazon's ( AMZN ) Alexa voice service, allowing original equipment manufacturers to easily and inexpensively add voice control to their products.

In other sector news:

(+) Anaplan ( PLAN ) rose almost 12% on Monday after the planning software company reported an adjusted net loss of $0.13 per share, beating the Capital IQ consensus expecting an $0.18 per share non-GAAP net loss for the three months ended Jan 31. Revenue increased to $69.3 million from $46.3 million during the year-ago period, also exceeding the $63.7 million analyst mean.

(+) Diodes Incorporated ( DIOD ) climbed 5% after Monday announcing its introduction of a new family of NPN and PNP power bipolar transistors in a 3.3-by-3.3 millimeter form and offering increased power density for applications requiring up to 100 volts and 3 amperes. The devices currently are sampling commercially, the company said, adding it expects automotive qualification will be completed by the end of March.

(+) II-VI Inc ( IIVI ) was almost 4% higher after the networking equipment supplier Monday began selling its gigabyte per second PAM4 VCSEL arrays for 400 gigabit Ethernet short reach transceivers and active optical cables deployed in data centers. The company also said it will be showing its 5G optical infrastructure devices at the Optical Networking and Communication Conference beginning March 5 in San Diego.

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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