Technology Sector Update for 10/21/2019: MFGP, OTEX, SAP, TER, MSFT, AAPL, IBM, CSCO, GOOG

Top Technology Stocks:

MSFT: +0.64%

AAPL: +0.52%

IBM: -0.89%

CSCO: +0.62%

GOOG: +0.57%

Technology majors were mostly higher pre-market Monday.

Stocks moving on news include:

(-) Micro Focus International (MFGP), which was declining by over 11% after Open Text (OTEX) denied speculation that it is considering buying the rival company.

(+) German software company SAP (SAP) was up more than 2% after it reported Q3 earnings of EUR1.30 ($1.45) per share, up from EUR1.14 per share in the prior-year quarter and matching the estimate from analysts surveyed by Capital IQ.

In other sector news:

(+) Teradyne (TER) was slightly higher after it agreed to acquire AutoGuide Mobile Robots, a maker of autonomous mobile robots, for $58 million in cash plus $107 million in milestone payments.

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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