24 Jan Technology Sector Update for 01/23/2018: CNET,QCOM,AVGO,ADBE
Top Tech Stocks
Technology stocks were mostly higher Tuesday, with shares of tech companies in the S&P 500 adding more than 0.5% in value while the Philadelphia semiconductor index was posting a nearly 0.5% gain.
Among technology stocks moving on news:
ChinaNet Online Holdings ( CNET ) jumped out to a nearly 41% gain during Tuesday trading, touching an intra-day high of $5.27 a share, after the ecommerce and online advertising company said it signed a deal with Wuxi Jingtum Network Technology and Ford Tree Beijin Blockchain Technology to establish a new joint venture company launching next month to develop new blockchain technology and applications. ChinaNet will be the controlling shareholder leading all aspects of the project.
In other sector news:
– Adobe Systems ( ADBE ) was higher after analysts at RBC Capital Markets raised their price target for the software firm by $15 to $208 a share and also reiterated their Outperform rating for the company’s stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.