Technology

Technology Sector Update for 06/11/2018: SPLK,RFIL,EA

Top Tech Stocks

MSFT -0.24%

AAPL flat

IBM +0.73%

CSCO +0.63%

GOOG +1.34%

Technology stocks were firming Monday, with shares of tech companies in the S&P 500 adding almost 0.4% in value although the Philadelphia semiconductor index was posting a less than 0.1% decline.

Among technology stocks moving on news:

- Splunk ( SPLK ) was back near Monday's starting mark this afternoon, paring a larger decline previously in the session that followed the big-data analytics company announcing a definitive agreement to acquire VictorOps, a business-to-business service, for around $120 million. The proposed transaction is expected to close during Splunk's fiscal Q2 ending July 31, with Splunk adding it expects to pay the entire $120 million price-tag using cash on hand.

In other sector news:

+ RF Industries ( RFIL ) surged to a more than four-year high on Monday, streaking nearly 41% higher to its best share price since Dec. 2013 at $8.80 a share after reporting huge jumps in its fiscal Q2 financial results compared with year-ago levels. The company earned $0.34 per share during the three months ended April 30, up from just $0.01 per share during the same quarter last year. It also generated a record $22.4 million in revenue, or almost triple year-ago levels. Analyst estimates were not available for comparison.

- Electronic Arts ( EA ) was staying on positive ground Monday, rising just over 1% in recent trading, following reports it will soon begin offering game subscriptions for the first time. The $15-per-month subscriptions should become available later this summer and provide early and full access to its latest PC games like "Battlefield V" and "FIFA 19," which typically cost about $60 each, according to The Wall Street Journal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

RFIL EA SPLK

Other Topics

Commodities

Latest Technology Videos

Sundar Pichai's Google Move Will Increase Visibility, Techonomy's Kirkpatrick Says

David Kirkpatrick, chief executive officer and founder of Techonomy Media, discusses the decision by Google founders Larry Page and Sergey Brin to make Sundar Pichai chief executive officer of both Google and its holding company Alphabet Inc.

Dec 4, 2019