Technology

Technology Sector Update for 06/14/2019: AVGO, SNE, GRMN, MSFT, AAPL, IBM, CSCO, GOOG

Top Technology Stocks:

MSFT: -0.22%

AAPL: -1.31%

IBM: -0.40%

CSCO: -0.77%

GOOG: Flat

Tech heavyweights were declining pre-bell Friday.

Moving stocks include:

(-) Broadcom (AVGO), which was more than 8% lower after it reported fiscal Q2 non-GAAP earnings that topped but revenue that missed Wall Street expectations, and it lowered its revenue outlook for the current fiscal year. Non-GAAP EPS increased to $5.21 for the three months ended May 5, from $4.88 a year earlier.

In other sector news:

(+) Sony (SNE) should spin off its semiconductor business, sell off stakes in Sony Financial and other units, and position itself as a leading global entertainment company, according to activist investor Dan Loeb's Third Point LLC, media reported. Sony was recently advancing 2.7%.

(=) Garmin's (GRMN) fitness tracking devices have been added to a consumer discount program offered by privately held health plan administrator American Specialty Health. Garmin was flat after the news.

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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