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