Sector Update: Tech Stocks Sinking on Tuesday

Tuesday, December 3, 2019 1:29 PM | MT Newswires

Top Tech Stocks

MSFT -0.63%

AAPL -2.2%

IBM -0.88%

CSCO -1.45%

GOOG +0.08%

Technology stocks were falling in recent trading, with the shares of tech stocks in the S&P 500 declining nearly 1.4% while the Philadelphia Semiconductor Index was slipping 2%.

Among technology stocks moving on news:

(-) Alteryx (AYX) declined fractionally. The data analytics company Tuesday said it has hired Scott Davidson to its newly created position of chief operating officer. Davidson most recently was chief financial officer and COO at Hortonworks and helped negotiate its January 2019 merger with Cloudera (CLDR).

In other sector news:

(+) FLIR Systems (FLIR) was down over 1%. The imaging and diagnostics technology company Tuesday announced an unspecified strategic investment in privately held Providence Photonics in exchange for exclusive access to its software that quantifies invisible gas emissions. FLIR also will work with Providence to deploy its quantification algorithms with its =FLIR OGI cameras and digital services.

(-) DouYu International (DOYU) slid nearly 5% after JPMorgan lowered its stock rating for the Chinese entertain platform to neutral from overweight previously and also cut its price target for the company's stock by $2 to $8 a share.

Price: 107.79, Change: -0.04, Percent Change: -0.04

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