Technology

Technology Sector Update for 04/18/2019: CHKP,WIT,MDSO,TEAM

Top Tech Stocks

MSFT +1.26%

AAPL +0.35%

IBM +0.75%

CSCO +0.04%

GOOG -0.13%

Technology stocks were rising Thursday afternoon, with the shares of tech stocks in the S&P 500 rising over 0.2% in value although the Philadelphia Semiconductor Index still was falling less than 0.1%.

Among technology stocks moving on news:

(-) Check Point Software Technologies ( CHKP ) fell 7.5% this afternoon. The IT security company late Wednesday reported non-GAAP Q1 net income of $1.32 per share on $471.8 million in revenue. Analysts, on average, were expecting a $1.31 per share adjusted profit on $471.2 million in net sales.

In other sector news:

(+) Wipro Ltd ( WIT ) was more than 3% higher after the Indian technology consulting company said its board of directors Tuesday authorized the repurchase of up to 323 million of its equity shares up to INR105 billion, or about $1.5 billion

(+) Medidata ( MDSO ) climbed 3.5% after Guggenheim began coverage of the cloud-based services company with a buy rating and a $92 price target.

(-) Atlassian ( TEAM ) dropped 8% after the software company projected non-IFRS fiscal Q4 net income of about $0.16 per share, trailing the Capital IQ consensus by $0.03 per share.

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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