Technology Sector Update for 12/31/2019: SINA, TME, UBER, MSFT, AAPL, IBM, CSCO, GOOG

Top Technology Stocks:

MSFT: -0.37%

AAPL: -0.44%

IBM: -0.23%

CSCO: -0.36%

GOOG: -0.18%

Leading technology stocks were lower pre-market Tuesday.

Early movers include:

(+) Sina (SINA), which was up more than 3% as its board authorized the repurchase up to $500 million ordinary shares over the next 12 months.

In other sector news:

(+) Tencent Music Entertainment Group (TME) was about 1% higher after saying it has joined a consortium led by parent company Tencent Holdings to acquire a 10% equity stake in Universal Music Group from Vivendi for EUR30 billion ($33.63 billion).

(-) Uber Technologies (UBER) and courier services provider Postmates filed a lawsuit in Los Angeles federal court, seeking to block a California labor law, which they said would harm "gig economy" businesses, according to media reports. Uber was recently down more than 1%.

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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