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

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MSFT +0.67%

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CSCO +0.38%

GOOG +1.11%

Technology stocks were climbing Thursday, with the shares of tech companies in the S&P 500 advancing more than 0.4% in recent trading while the Philadelphia Semiconductor Index was rising nearly 0.5%.

Among technology stocks moving on news:

(-) Tufin (TUFN) dropped 6% 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.

In other sector news:

(+) Coda Octopus Group (CODA) climbed 41% 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.

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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