Technology Sector Update for 10/08/2019: MTSI,ASUR,AMBA

Top Tech Stocks

MSFT +0.10%

AAPL 0.00%

IBM -1.59%

CSCO -2.37%

GOOG -0.61%

Technology stocks were declining in afternoon trading, with the shares of tech stocks in the S&P 500 dropping 0.8% while the Philadelphia Semiconductor Index was falling 2%.

Among technology stocks moving on news:

(+) Macom Technology Solutions Holdings (MTSI) declined fractionally on Tuesday after saying it has voluntarily dismissed its lawsuit against privately held chipmaker Litrinium. The US District Court for the Central District of California Sept. 23 dismissed Macom's legal claims and gave the company 20 days to amend its complaint.

In other sector news:

(+) Asure Software (ASUR) jumped almost 23% after agreeing to sell its workspace management business to FM:Systems for $120 million.

(-) Ambarella (AMBA) fell over 8% after a US blacklist of Chinese firms deemed to be "engaging in or enabling activities" contrary to US foreign policy interests was expanded to include one of company customers, Hikvision.

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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