Technology
AEY

Technology Sector Update for 12/28/2018: AEY,QTM,ABIL

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.

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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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