Technology Sector Update for 07/17/2020: RST,RADA,SINT

Technology stocks were narrowly higher in Friday trading, with the SPDR Technology Select Sector ETF advancing 0.2% while the Philadelphia Semiconductor Index was rising 0.3%.

In company news, Rosetta Stone (RST) was extending its session-long advance, climbing 24%, after Bloomberg reported the language-learning software firm has hired advisers to assist with exploring strategic alternatives, including a potential sale.

Rada Electronics Industries (RADA) still was narrowly higher this afternoon, giving back most of an early 18% gain, after the Israeli electronics manufacturer said it continues to expect a 47% increase in FY20 revenue over year-ago levels, reaching at least $65 million compared with the two-analyst consensus call looking for $66.8 million in revenue this year. The company also said it received $8 million in new orders since June 1.

Sintx Technologies (SINT) slid 10% lower after the ceramics contract manufacturer announced a $3 million, at-the-market purchase agreement with several unnamed institutional investors for 1.5 million of its common shares priced at $2 apiece.

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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