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Technology Sector Update for 01/17/2018: ASML,IBM,RNET

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Top Tech Stocks

MSFT +2.12%

AAPL -0.91%

IBM +2.90%

CSCO +1.38%

GOOG +0.61%

Technology stocks were posting large gains Wednesday, with shares of tech companies in the S&P 500 showing a 0.9% advance while the Philadelphia semiconductor index was posting a more than 2.1% gain.

Among technology stocks moving on news:

+ American depository shares of ASML Holding NV ( ASML ) climbed as much as 6% on Wednesday, topping out at $198.09 apiece, after the Dutch chipmaker reported Q4 net income of EUR1.50, or $1.84 per share, improving on a EUR1.23 per share profit during the year-ago period. Net sales grew to EUR2.56 billion during the three months ended Dec. 31 from EUR1.91 billion last year. Also authorizes a new, EUR2.50 billion stock buyback program and hires Roger Dassen to replace Wolfgang Nickl as chief financial officer, pending shareholder approval.

In other sector news:

International Business Machines ( IBM ) rose Wednesday after analysts at Barclays raised their investment rating for Big Blue’s stock to Overweight from Equal Weight, citing progress in its turnaround,.

+ RigNet ( RNET ) advanced after the video conferencing and monitoring company said it has acquired steaming analytics firm Intelie for an undisclosed sum. The deal is expected to close before the end of March, subject to customary closing conditions.

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