Markets

Technology Sector Update for 12/21/2015: RAX,NTWK,RAX

Top Tech Stocks

MSFT +1.07%

AAPL +1.12%

IBM +0.39%

CSCO +1.31%

GOOG +1.08%

Technology stocks were hanging on to narrow gains this afternoon, with shares of tech companies in the S&P 500 adding around 0.1% in recent trading.

In company news, Rackspace ( RAX ) was narrowly higher in late Monday trading after Goldman Sachs today began analyst coverage of the cloud computing services company with a Neutral rating and a $27 price target.

RAX shares were up about 0.5% just before the closing bell at $25.04 apiece, rebounding from an earlier drop as low as $23.97 a share.

In other sector news,

(+) NTWK, Signs contract valued above $100 mln, including license, maintenance, services and expected customization with an unnamed long-standing customer.

(-) ESLT, Announces non-material contract to supply RUAG Defence with its CYBERBIT's CyberShield trainer and simulator.

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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