Technology

Technology Sector Update for 12/31/2018: GOOG,GOOGL,SFET,FB

Top Tech Stocks

MSFT +1.35%

AAPL +0.90%

IBM +0.27%

CSCO +1.26%

GOOG -0.16%

Technology stocks were helping pace the broader US markets higher, with the shares of tech companies in the S&P 500 adding about 0.9% in value while the Philadelphia Semiconductor Index was also rising 0.1%.

Among technology stocks moving on news:

(-) Alphabet (GOOG,GOOGL) was fractionally lower on Monday, reversing 1.5% gain earlier in the session. A US district court dismissed a lawsuit filed against the internet conglomerate by consumers who claimed Google's photo sharing and storage service violated their privacy, according to media reports.

In other sector news:

(+) Safe-T Group ( SFET ) rose 11% on Monday after the cyber-security firm said it received an order from a large Israeli beverage company for its development environment software and other software-defined access products. The order includes licenses for all of the beverage company's thousands of users as well as an annual maintenance subscription for perpetual licenses.

(-) Facebook ( FB ) has turned negative this afternoon, dropping 2%, after The Washington Post reported the partial government shutdown will force the Federal Trade Commission to suspend its probe into alleged violations of a 2011 consent order requiring the social network company to keep users' personal information private.

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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