Technology

Technology Sector Update for 12/26/2018: CUI,SFET,TWLO,VVPR

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Top Tech Stocks

MSFT +5.32%

AAPL +5.44%

IBM +2.44%

CSCO +4.51%

GOOG +5.24%

Technology stocks were finishing near their best levels during Wednesday trading, with the shares of tech stocks in the S&P 500 adding over 4.8% in value while the Philadelphia Semiconductor Index also rose about 4.8%.

Among technology stocks moving on news:

(+) CUI Global ( CUI ) was trading more than 2% higher shortly before Wednesay's closing bell after the the power and electro-mechanical components manufacturer said it has closed the $8.1 million sale and lease-back of its corporate headquarters in Tualatin, Ore. The company concurrently entered into a 10-year lease for the facility and pocketed about $4.5 million in net proceeds after repaying the outstanding mortgage on the property.

In other sector news:

(+) Safe-T Group Ltd. ( SFET ) soared over 64% at one point on Wednesday after the data-security company said it received an order for its Software Defined Access product from an Israeli-based global food and beverage company. The financial value and other details of the contract were not disclosed.

(+) Twilio ( TWLO ) gained almost 10% Wednesday after analysts at Canaccord Genuity on Monday selected the cloud communications company as its top pick among "High Growth Optionality" software stocks for 2019, saying its share price was "holding up better than we expected following [an] explosive 32% post-earnings pop."

(-) VivoPower International ( VVPR ) dropped 11.6% on Wednesday after the British solar power producer said it was in advanced talks with potential buyers for its US solar portfolio.

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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