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Technology Sector Update for 07/15/2016: QIHU,ITI,INFY


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Top Tech Stocks

MSFT -0.21%

AAPL -0.08%

IBM -0.34%

CSCO +0.20%

GOOG -0.15%

Technology stocks were ending slightly lower, with shares of tech companies in the S&P 500 declining less than 0.1% this afternoon.

In company news, Chinese internet company Qihoo 360 Technology Co ( QIHU ) was slightly higher in late Friday trading after the company said it has completed its proposed merger with Tianjin Qixin Zhicheng Technology, Tianjin Qixin Tongda Technology, True Thrive (Midco) and New Summit as well as Global Village Associates and Young Vision Group Ltd.

Following the merger, Qihoo became a wholly-owned subsidiary of Midco and will cease to operate as a publicly-traded company. Shareholders received $51.33 in cash for each Class A and Class B Qihoo share.

QIHU American depository shares were up 0.3% in late trade at $76.90 each, or just 3 cents under their record high.

In other sector news,

(+) ITI, Projects Q1 revenue of in the range of $23.5 mln to $24.5 mln, rising between 28% to 33% over last year, and topping analyst consensus by at least $3.4 mln.

(-) INFY, Adjusted Q1 EPS of of $0.22 per share tops year-ago profit by $0.01 per share but lagging Capital IQ consensus by $0.01 per share. Revenue rises to $2.50 bln from $2.26 bln last year period but falling short of $2.55 bln consensus.

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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Technology Sector Update for 07/15/2016: QIHU,ITI,INFY Reviewed by on . Shutterstock photo Top Tech Stocks MSFT -0.21% AAPL -0.08% IBM -0.34% CSCO +0.20% GOOG -0.15% Technology stocks were ending slightly lower, with shares of tech Shutterstock photo Top Tech Stocks MSFT -0.21% AAPL -0.08% IBM -0.34% CSCO +0.20% GOOG -0.15% Technology stocks were ending slightly lower, with shares of tech Rating:
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