Technology

Technology Sector Update for 10/15/2018: LLL,HRS,KTOS,AAPL

Top Tech Stocks

MSFT -0.73%

AAPL -1.43%

IBM +0.52%

CSCO -1.36%

GOOG -0.85%

Technology stocks were slumping Monday with shares of tech stocks in the S&P 500 losing almost 0.9% in value, while the Philadelphia Semiconductor Index was falling only about 0.1%.

Among technology stocks moving on news:

(+) L3 Technologies ( LLL ) climbed more than 12% at one point on Monday after the company on Sunday reported Q3 financial results that topped year-ago results and analyst projections.

In other sector news:

(+) Harris ( HRS ) climbed 11% on Monday after the networking equipment company reported significantly improved fiscal Q1 financial results compared with the year-ago quarter and topping Wall Street expectations. It also raised its FY19 outlook for earnings.

(-) Apple ( AAPL ) dropped 1.6% on Monday after Goldman Sachs said in a note to clients that the slowing Chinese economy may have a negative effect on iPhone sales, though the bank didn't lower its price target or rating on the tech giant.

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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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