Technology

Technology Sector Update for 06/17/2019: AMRH,SMAR,VEON

Top Tech Stocks

MSFT +0.47%

AAPL +0.77%

IBM 0.00%

CSCO +1.17%

GOOG +1.00%

Technology stocks were firming in recent trading, with the shares of tech stocks in the S&P 500 adding 0.5% in value while he Philadelphia Semiconductor Index was little changed.

Among technology stocks moving on news:

(+) Ameri Holdings (AMRH) jumped out to a nearly 14% gain after the digital services company Monday announced a multi-year, managed services contract with electronics manufacturer Epson America. The new contract calls on Ameri to provide Epson with across-the-board support and management of SAP applications. Financial terms were not disclosed.

In other sector news:

(+) Smartsheet (SMAR) climbed over 4% after saying underwriters exercised their option to buy stock in the company's recent public offering. The company sold a total of 9.03 million shares raising gross proceeds of $392.6 million in the offering. Entities affiliated with Madrona Ventures also sold 5.81 million shares in a concurrent secondary offering, pocketing $252.7 million in gross proceeds.

(+) Veon Ltd (VEON) was 5% higher after UBS raised its investment recommendation for the telecommunication equipment and services company to buy from neutral previously.

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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