Top Tech Stocks
MSFT +0.64%
AAPL +1.95%
IBM -3.97%
CSCO -0.62%
GOOG +0.86%
Technology stocks were higher in recent trading, with the shares of tech companies in the S&P 500 adding 0.6% in value while the Philadelphia Semiconductor Index was rising 1.5%.
Among technology stocks moving on news:
(+) Ericsson ( ERIC ) climbed almost 6% after announcing a multi-year strategic partnership with Future Technologies Venture LLC, which is expected to extend its reach into key market verticals - including utilities, oil and gas, mining and government - that Future Technologies serves. The company also reported non-IFRS Q1 net income of SEK0.80 per share, up from SEK0.11 per share last year and beating the Capital IQ consensus expecting SEK0.64 per share.
In other sector news:
(+) Qualcomm ( QCOM ) rose 11% on Wednesday, continuing its big Tuesday advance, after the chipmaker and Apple ( AAPL ) agreed to drop all litigation between the companies all over the world. The settlement also included an undisclosed payment by Apple to Qualcomm.
(-) Paycom Software ( PAYC ) was fractionally lower after KeyBanc raised its price target on the company's stock by $28 to $210 and reiterated its outperform rating.
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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.
