Technology Sector Update for 08/27/2019: NETE, DGLY

Top Technology Stocks:

MSFT: -0.16%

AAPL: -1.06%

IBM: +0.38%

CSCO: -0.40%

GOOG: -0.28%

Technology stocks were edging lower in midday trading, with the shares of tech stocks in the S&P 500 were down 0.6% in value while the Philadelphia Semiconductor Index was falling over 0.8%.

Among technology stocks moving on news:

(+) Net Element (NETE) was soaring over 12% after the company said it expects Q3 revenue in its international transactions operation to rise 40% over Q2.

(+) Digital Ally (DGLY) was rallying over 83% after the company received a patent allowing for a device and software that will help police officers conduct sobriety tests during traffic stops.

In other sector news:

(-) B.O.S. Better Online Solutions (BOSC) was down 8% after the firm reported Q2 adjusted EPS of $0.05 per basic share compared with $0.06 per basic share in the comparable quarter of last year.

(-) GTT Communications (GTT) was dropping over 10% on news of its CFO Mike Sicoli resigning Sept. 30.

(-) Anaplan (PLAN) was falling over 6% after it posted a fiscal Q2 adjusted loss of $0.12 per diluted share, narrower than a loss of $0.18 per share a year ago and the $0.16 average loss estimate from analysts polled by Capital IQ.

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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