Markets

Technology Sector Update for 05/06/2019: CAMT, AAPL, SPOT, SPNS, MSFT, IBM, CSCO, GOOG

Top Technology Stocks:

MSFT: -1.66%

AAPL: -2.86%

IBM: -1.32%

CSCO: -1.69%

GOOG: -1.33%

Top technology stocks were retreating pre-market Monday.

Early movers include:

(-) Camtek (CAMT), which was declining by more than 5% after saying its adjusted Q1 earnings rose to $0.18 per share from $0.12 a year ago, matching the average estimate from analysts polled by Capital IQ.

In other sector news:

(-) The European Union will formally inquire into claims made by audio streaming platform Spotify (SPOT) that Apple (AAPL) leveraged its dominant market position to suppress competition in favor of its own streaming service Apple Music, the Financial Times reported. Apple was recently down more than 2%, while Spotify was declining by over 1%.

(+) Sapiens International (SPNS) was marginally higher after it reported Q1 non-GAAP diluted earnings per share of $0.17, up from $0.13 during the year-ago quarter, and beating the Capital IQ consensus forecast of $0.15.

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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