Technology

Technology Sector Update for 06/07/2016: HMNY,WDC,GIGA

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MSFT +0.33%

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Technology stocks were ending mostly higher today, with shares of tech companies in the S&P 500 pushing to a 0.4% gain today.

In company news, Helios and Matheson Analytics ( HMNY ) soared for a second day on Tuesday, with shares of information technology services company rising to a nearly 11-year high after yesterday announcing its acquisition of Zone Technologies.

The target company developed RedZone Maps, which unites GPS technology and real-time crime and navigation data. The companies are planning to improve the application's artificial intelligence technology to better compete with Alphabet's ( GOOGL ) Google Waze app.

Terms of the transaction were not disclosed.

HMNY shares were up more than 75% at $12.64 each, earlier reaching their best price since July 2095 at $15.20 a share. The stock closed 550% higher on Monday at $7.22 a share.

In other sector news,

(+) AEHR, Soars to seven-year high after receiving an order worth more than $4.5 million from "one of the world's largest semiconductor manufacturers."

(-) GIGA, Reports Q4 net loss per share of $0.16, expanding on $0.03 per share loss last year. Revenue falls 37% year over year to $2.7 mln. No analyst estimates available for comparison.

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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