Technology Sector Update for 08/12/2019: GLOB,RDCM,EMKR

Top Tech Stocks

MSFT -0.74%

AAPL +0.31%

IBM -1.24%

CSCO -1.13%

GOOG -0.64%

Technology stocks were falling this afternoon, with the shares of tech stocks in the S&P 500 dropping nearly 0.8% while the Philadelphia Semiconductor Index also was down almost 0.8%.

Among technology stocks moving on news:

(-) Globant SA (GLOB) dropped 5% on Monday after the technology-services company said it was acquiring Belatrix Software, a mobile applications development company with operations throughout Latin America, including Argentina, Peru and Colombia as well as the US and Spain. Financial terms and other details of the transaction were not disclosed.

In other sector news:

(+) Radcom (RDCM) rose 2.8% after the networking equipment company raised its FY19 revenue forecast range to $30 million to $33 million compared with its prior outlook expecting between $28 million to $32 million and topping the Capital IQ consensus looking for $28.4 million.

(+) Emcore (EMKR) was fractionally higher after the mixed-signal electronic components company said it hired Tom Minichiello as its new chief financial officer. He replaces Mark Gordon, who will continue as interim CFO until Minichiello begins work on August 26.

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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