Technology

Technology Sector Update for 04/11/2017: PRLB,RMGN,MTSC

Top Tech Stocks

MSFT -0.37%

AAPL -1.36%

IBM -0.44%

CSCO -0.43%

GOOG -0.41%

Technology stocks sat out the uptick for most industry sectors today, with shares of tech companies in the S&P 500 remaining on a 0.6% slide lower.

In company news, shares of digital manufacturer Proto Labs ( PRLB ) turned higher Tuesday after the digital manufacturing company today said it has settled a patent-infringement dispute with ICO Products by agreeing to a licensing deal allowing the rival firm to continue using some of its proprietary technology to produce injection-molded parts.

In exchange for the license agreement, Proto Labs ( PRLB ) received an undisclosed amount of money in addition to an equity stake in ICO Products. The agreeement also provides the company with the option of taking an even larger stake in ICO in the future.

Proto Labs began operations almost 20 years ago using automated quoting software it developed and patented that analyzes three-dimensional computer-aided design models for real-time pricing and interactive design.

PRLB shares were up over 2% at $51.25 apiece, slipping 10 cents from their session high.

In other sector news,

(+) RMGN, Recently converts a second of its Visual Supply Chain pilot programs into $200,000 contracts for two more of a client's distribution centers.

(-) MTSC, Adjusted Q1 EPS of $0.55 trails Capital IQ consensus by $0.06 per share. Revenue rises 42% over year-ago levels to $199 mln, beating the $195.5 mln Street view.

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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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