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IQ

Technology Sector Update for 04/01/2019: JBL,IQ,ROKU,QTT

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Technology stocks continued to add to their mid-day advance this afternoon, with the shares of tech stocks in the S&P 500 climbing over 1.3% while the Philadelphia Semiconductor Index was more than 2.4% higher.

Among technology stocks moving on news:

(+) Jabil ( JBL ) climbed 6% after a Raymond James upgrade of the contract electronics manufacturer to strong buy from market perform.

In other sector news:

(+) Roku ( ROKU ) rose 7% on Monday after KeyBanc raised its price target for the streaming video device company by $13 to $76 a share while keeping its stock rating at overweight.

(+) iQIYI Inc ( IQ ) was climbing 3% after the Chinese internet content company late Friday said it has closed on a $1.2 billion private placement of convertible senior notes due 2025, which included the initial purchasers exercising their option to buy an additional $150 million of notes.

(-) Qutoutiao Inc ( QTT ) fell 10% after the Chinese mobile content platform late Friday disclosed plans for a follow-on public offering of 8.5 million of its American depositary shares, with the company selling about 1.05 million ADSs and certain shareholders selling the other 7.45 million ADSs.

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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