Technology

Technology Sector Update for 04/12/2016: GOOGL, CSCO, IBM, AAPL, MSFT, CNIT

Top Technology Stocks:

MSFT: +0.2%

AAPL: +0.2%

IBM: +0.1%

CSCO: -1.6%

GOOGL: +0.3%

Technology shares inched higher in pre-market trade on Tuesday.

In technology stocks news, IBM ( IBM ) said it is extending its global partnership with Box, providing enterprises in Europe and Asia with a data storage solution based on the IBM Cloud. IBM Cloud will be available as part of Box's new Box Zones technology. Financial terms of the deal weren't disclosed.

IBM shares edged 0.1% higher to $149.32 in pre-market trading , with a 52-week range of $116.90 - $176.30.

China Information Technology ( CNIT ) rose in pre-market trading after it said it entered into two agreements with a leading advertising agency in Fujian Province for the sale of 8,500 CNIT elevator digital display terminals to be installed in 20 major cities throughout China. The agreements with Haojing (Xiamen) Culture Media Co., Ltd., have total base revenue of RMB33.58 million (about $5.2 million), all of which will be remitted to CNIT during calendar 2016. The agreements also carry a non-binding contract addition of 60,000 to 80,000 terminals to be purchased by Haojing from CNIT over the following three years. The 8,500 terminals will carry advertising targeted to specific audiences in high-traffic locations. The terminals will enable viewers to request information about, or make purchases of, advertisers' products and services.

CNIT shares are up 14.8% at $1.71, with a 52-week range of $0.68 - $7.35.

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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