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Technology Sector Update for 07/13/2017: ANY,XGTI,DRWI

July 13, 2017
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Top Tech Stocks

MSFT +0.91%

AAPL +1.54%

IBM +0.01%

CSCO +0.32%

GOOG +0.40%

Technology stocks mostly lost ground this afternoon, giving back a nearly 0.5% gain earlier today and holding on to a 0.2% gain.

In company news, Sphere 3D ( ANY ) rallied Thursday, with shares of the data management company rising almost 27% to a session high of $3.83 apiece after it today said its HVE ConneXions unit has won a contract with the University of North Alabama to deploy next-generation desktop virtualization solutions.

The university’s technology staff went through an eight-month process to evaluate multiple vendors, and ultimately chose HVE ConneXions as “it provides the most robust, cost effective and proven solution to meet their requirements,” the company said in a statement.

Financial terms of the new contract were not disclosed.

In other sector news,

(+) XGTI, Projected Q2 revenue of $14.1 mln to $14.5 mln exceeds single-analyst estimate expecting $9.2 mln in revenue. Also sees surprise quarterly profit and positive EBITDA vs. lone analyst call expecting a $0.15 per share net loss.

(-) DRWI, Reports Q1 net loss of $0.52, improving on $1.23 per share net loss during year-ago period but still exceeding the $0.29 per share lone analyst estimate. Revenue falls 28% from last year to $9 mln. There was no revenue forecast.

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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