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Technology stocks advanced in Thursday trading, with the shares of tech stocks in the S&P 500 posting a 0.5% gain although the Philadelphia Semiconductor Index was slipping over 0.1%.
Among technology stocks moving on news:
(+) MER Telemanagement Solutions (MTSL) was 2% higher, giving back a 35% spike soon after the Israeli enterprise software firm Thursday reported non-GAAP Q3 net income of $0.04 per share, reversing a $0.02 per share adjusted net loss during the same quarter last year. The company also said its omni-channel contact center software generated its first sales during the three months ended Sept. 30 and is expected to become its “main growth engine” over coming years.
In other sector news:
(+) BOS Better Online Solutions (BOSC) climbed just over 1% after saying co-CEO Eyal Cohen will be taking over sole control of the Israeli robotics and supply chain services company following the departure of Yuval Viner to pursue other professional interests. Cohen also will be turning over his role as chief financial officer to Hagit Vizner, who has been company controller for the past eight years.
(+) iQIYI (IQ) rose 2% after the Chinese internet content company Thursday said it has received a pair of certifications from international accreditation agency DNV GL for its iQYI security management and user privacy applications.
(-) Xperi (XPER) was fractionally lower after a new regulatory filing Thursday showed Xperi (XPER) would receive a $50.8 million break-up fee if set-top technology firm Tivo (TIVO) backs out of the $1.2 billion buyout proposal by the imaging and audio technology company. Tivo would receive a $44 million termination fee if Xperi cancels the all-stock transaction.
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