Technology

Technology Sector Update for 12/20/2018: QTRH,TWTR,ERIC,BILI,BABA

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Top Tech Stocks

MSFT -2.32%

AAPL -2.51%

IBM -3.03%

CSCO -1.37%

GOOG -1.29%

Technology stocks were set to close lower Thursday afternoon, with shares of tech stocks in the S&P 500 losing almost 1.8% while the Philadelphia Semiconductor Index fell nearly 0.6%.

(+) Quarterhill ( QTRH ) rose more than 6% on Thursday after the networking equipment company said its Polaris Innovations indirect subsidiary has licensed some of its patents to privately held Powerchip Technology Corp, adding it also has received a $2.8 million contract to provide truck screening services through 2024 at five ports of entry in Arizona.

Among technology stocks moving on news:

(-) Bilibili ( BILI ) was almost 1% lower this afternoon, reversing a nearly 5% gain earlier Thursday after the online entertainment company announced a business collaboration agreement with the Alibaba Group's ( BABA ) Taobao Marketplace ecommerce unit.

(-) Twitter ( TWTR ) sank more than 13% on Thursday after Wall Street bears appeared to gain the upper hand when a pair of new analyst reports reached sharply divergent conclusions about the mini-blogging platform. In one report, analysts at JPMorgan said the recent selloff for the company's stock was overdone and repeated their call that Twitter was one of their top picks for 2019. But short-seller Andrew Left at Citron Research said Twitter was "uninvestable" following an Amnesty International report that found female users of the social media frequently face unusually harsh and abusive harassment.

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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