Technology Sector Update for 01/22/2020: DGLY,IBM,VRSK – Nasdaq

Top Tech Stocks

MSFT -0.01%

AAPL +0.99%

IBM +3.2%

CSCO +1.1%

GOOG +0.74%

Technology stocks were advancing on Wednesday, with the shares of tech stocks in the S&P 500 climbing 0.8% while the Philadelphia Semiconductor Index was rising 1.4%.

Among technology stocks moving on news:

(+) Digital Ally (DGLY) was ahead almost 7% after Wednesday announcing a new order to install its DVM-250 in-car video event recorders in 100 of zTrip’s ride-hailing vehicles in Indianopolis. Terms of the new contract, which also includes new asset tracking unit and video management equipment, were not disclosed.

In other sector news:

(+) International Business Machines (IBM) climbed more than 3% after reporting non-GAAP Q4 net income of $4.71 per share, slipping from a $4.87 per share profit during the year-ago quarter but beating the Capital IQ by $0.02 per share. Revenue for the three months ended Dec. 31 also exceeded analyst estimates and the company also issued FY20 earnings guidance topping Wall Street forecasts.

(=) Verisk (VRSK) rose 1.5% after the data analytics provider late Tuesday announced plans to sell its imagery sourcing group assets from its Geomni business to Vexcel Imaging. Financial terms weren’t disclosed, although Verisk said it will become a minority owner in Vexcel with full access to all aerial imagery libraries.

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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