gilt

Technology Sector Update for 09/24/2015: GILT,DAEG,PCO,GOOG,GOOGL

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Technology stocks were declining Thursday, with shares of technology companies in the S&P 500 dropping about 1.0%.

In company news, shares of Gilat Satellite Networks Ltd. ( GILT ) fell to a three-year low on Thursday, with the Israeli networking equipment company receiving little investor support despite saying it received a long-term contract to supply commercial aircraft with Ku/Ka-band terminals for in-flight broadband connections.

Financial terms and the identity of the satellite broadband provider were not disclosed.

GILT shares were down almost 9% Thursday afternoon at $3.61 each, earlier sinking to their lowest price since August 2012 at $3.42 a share. The stock already had dropped more than 22% over the past year prior to Thursday's retreat.

In other sector news,

(+) DAEG, (+4.4%) Announces strategic partnership with Toronto-based Rivit Technology Partners, with Rivit now offering Daegis' Composer Technologies migration software and services for Lotus notes applications.

(-) PCO, (-38.0%) Federal trial jury in Texas rules that five patents asserted by the company were valid but also ruled that Google (GOOG,GOOGL) and Samsung did not infringe on them.

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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