Technology Sector Update for 06/13/2019: CRWD,TUFN,CODA,CTXS

Top Tech Stocks

MSFT +0.49%

AAPL +0.10%

IBM +0.60%

CSCO +0.33%

GOOG +0.88%

Technology stocks were hanging on for small gains late Thursday, with the shares of tech stocks in the S&P 500 advancing slightly more than 0.1% while the Philadelphia Semiconductor Index was rising over 0.3%.

Among technology stocks moving on news:

(+) CrowdStrike Holdings (CRWD) rose again during its second day as a public company, climbing almost 20% on Thursday following its 88% first-day advance. The cloud-based cybersecurity firm late Tuesday priced its initial public offering of 18 million shares at $34 apiece, topping its $28 to $30 projected range by a wide margin, and opened Wednesday at $63.86 a share, or just 4 cents under its eventual closing price.

In other sector news:

(+) Coda Octopus Group (CODA) climbed nearly 44% after the data acquisition and imaging software company Thursday reported fiscal Q2 net income of $0.18 per share, reversing a $0.01 per share net loss during the same quarter last year, while revenue grew 92% year over year to $6.8 million compared with $3.5 million in year-ago sales.

(+) Citrix Systems (CTXS) was fractionally higher after Thursday saying it has started a software license program to improve access for state and local agencies in California to its productivity and client-engagement tools.

(-) Tufin (TUFN) dropped 4% on Thursday after the Israeli software firm saw its non-GAAP Q1 net loss widen to $0.41 per share compared with a $0.04 per share adjusted loss during the same quarter last year but still topped the Capital IQ consensus by $0.01 per share.

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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