Technology Sector Update for 04/15/2019: MDSO,PHUN,SAIC

Top Tech Stocks

MSFT -0.06%

AAPL +0.03%

IBM -0.50%

CSCO +0.17%

GOOG +0.05%

Technology stocks were falling in recent trading, with the shares of tech stocks in the S&P 500 losing almost 0.3% in value while the Philadelphia Semiconductor Index was dropping nearly 0.9% this afternoon.

Among technology stocks moving on news:

(+) Medidata (MDSO) rose about 6.6% on Monday after William Blair began coverage of the cloud platform company with an outperform rating.

In other sector news:

(+) Today Phunware (PHUN) jumped over 7% higher after the enterprise software firm said it signed a commercial agreement withEndpoint IP to monetize its intellectual property, which includes 16 US patents and another six patent applications. The deal establishes Endpoint IP as a global agency partner of note to license Phunware's mobile technology and will also provide advisory services for its licensing and enforcement.

(+) Science Applications International (SAIC) was little changed on Monday after saying it received a position on the Defense Threat Reduction Agency's $535 million information technology design and services contract.

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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