Technology Sector Update for 09/26/2019: KEYS,QCOM,ACN,SMTC,ERIC

Top Tech Stocks

MSFT +0.19%

AAPL -0.36%

IBM +0.27%

CSCO -1.38%

GOOG -0.44%

Technology stocks reversed course this afternoon and were posting small gains in recent trading. At last look, the shares of tech stocks in the S&P 500 were climbing almost 0.2% while the Philadelphia Semiconductor Index also was rising nearly 0.2%.

Among technology stocks moving on news:

(-) Keysight Technologies (KEYS) was fractionally lower. The networking equipment company Thursday said it was expanding its partnership with Qualcomm (QCOM) to commercialize its dynamic spectrum sharing technology, which will enable mobile operators to quickly roll out 5G new radio services.

In other sector news:

(+) Semtech (SMTC) climbed 6% after Piper Jaffray increased its price target on the specialty chipmaker by $5 to $55 a share and reiterated its overweight rating on the company's stock.

(+) Accenture (ACN) rose fractionally Thursday after the technology consulting company reported fiscal Q4 earnings of $1.74 per share, up from $1.58 per share during the same period a year ago and topping the Capital IQ consensus by $0.02 per share.

(-) Ericsson (ERIC) fell nearly 3% after the Swedish communications equipment company warned its upcoming Q3 financial results will include a $1.23 billion provision to resolve a probe into its compliance with the US Foreign Corrupt Practices Act.

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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