Top Tech Stocks
MSFT -0.64%
AAPL -0.35%
IBM -0.87%
CSCO -0.40%
GOOG -0.64%
Technology stocks were posting small gains in recent trading, with shares of tech companies in the S&P 500 up fractionally. Meanwhile, the Philadelphia Semiconductor Index was rising 0.8%.
Among technology stocks moving on news:
(+) ADDvantage Technologies Group ( AEY ) jumped 12% higher during Friday trading after the electronics manufacturer announced its $1.7 million purchase of Fulton Technologies and Mill City Communications, significantly expanding its wireless telecommunications offerings. The company also reported a fiscal Q4 net loss of $0.47 per share compared with a $0.03 per share net loss during the year-ago period. Net sales declined 11.4% year over year to $10.9 million.
In other sector news:
(+) Quantum ( QTM ) was 27% higher in afternoon trading, giving back roughly half of a 50% gain after the data-storage company refinanced all of its current debt facilities with a $165 million senior secured term loan facility and a $45 million revolving credit line.
(+) Ability Inc. ( ABIL ) soared as much as 57% higher on Friday after the Israeli cyber intelligence software company said its founders agreed to convert the company's $1.5 million (NIS5.5 million) credit line into equity.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
