Technology

Technology Sector Update for 04/02/2019: SFET,COMM,CVLT

Top Tech Stocks

MSFT +0.11%

AAPL +1.29%

IBM -0.14%

CSCO +0.38%

GOOG +0.24%

Technology stocks were little changed in recent trading, with the shares of tech companies in the S&P 500 rising 0.1% while the Philadelphia Semiconductor Index was falling 0.3%.

Among technology stocks moving on news:

(+) Safe-T ( SFET ) raced 9% higher after Tuesday saying it received an order for its secure defined exchange and secure defined access devices from an unnamed Israeli government ministry. Financial terms of the transactions were not disclosed.

In other sector news:

(+) CommScope ( COMM ) jumped 3% after an upgrade to outperform from neutral at Credit Suisse, which also raised its price target for the networking equipment company by $14 to $34 a share.

(-) Commvault Systems ( CVLT ) fell nearly 6% on Tuesday. The company disclosed that Jay Whalen, who previously had been controller at the data protection software firm, was promoted to chief accounting officer, replacing Gary Merrill who became vice president for business operations, analytics, technology and simplicity at Commvault. Ron Miller stepped down on March 31 as senior vice president of worldwide sales, the company said in a regulatory filing.

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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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