Top Tech Stocks
Technology stocks were narrowly lower in recent trading, with the shares of tech stocks in the S&P 500 slipping more than 2% while the Philadelphia Semiconductor Index was falling 0.8%.
Among technology stocks moving on news:
(+) NetApp (NTAP) rose 3.7% after reporting adjusted fiscal Q1 net income of $0.65 per share on $1.24 billion in revenue, down on both sides of the ledger compared with the year-ago period but still beating the Capital IQ consensus expecting a $0.58 per share adjusted profit on $1.23 billion in revenue during the three months ended July 26.
In other sector news:
(+) Pivotal Software (PVTL) was nearly 69% higher during Thursday trade after the software development company said it was in talks to be acquired by VMWare (VMW) for $15 per class A share in cash, representing an 80.7% premium over Wednesday's closing price.
(-) Cisco Systems (CSCO) dropped nearly 9% after late Wednesday projecting adjusted fiscal Q1 net income in a range of $0.80 to $0.82 per share, trailing the Street view expecting a $0.83 per share non-GAAP profit for the networking equipment giant during the three months ending Oct. 30.
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