Technology stocks were slightly lower, giving back earlier gains, with the shares of tech stocks in the S&P 500 falling 0.2%. Meanwhile, chip-makers were bucking the trend and staying positive, with a 0.3% increase for the Philadelphia Semiconductor Index Tuesday afternoon.
Among technology stocks moving on news:
(-) SeaChange International (SEAC) slid over 26% on Tuesday to a record low of $1.31 a share after the software company cut its FY19 revenue projections to a new range of $61 million to $65 million, trailing the Capital IQ consensus for the 12 months ending Jan. 31 by at least $4.6 million.
In other sector news:
(-) LightPath Technologies (LPTH) rose over 6% at one point on Tuesday after announcing a $5.9 million supply contract calling on the electronic components firm to produce a variety of elements of infrared optical lens elements for an unnamed "major" maker of infrared vision products.
(-) CalAmp (CAMP) fell more than 18% to its lowest share price since November 2016 after at least two firms downgraded their investment recommendations for the telematics company and one of them, First Analysis, also trimmed its price target on the company's stock by $7 to $22 a share. The downgrades came after the company late Monday forecast earnings and revenue below Wall Street expectations.
Price: 1.33, Change: -0.45, Percent Change: -25.37
|Market Chatter: Deutsche Bank AG to Create "Bad Bank...|
|American Airlines Wins Court Order to Halt Alleged I...|
|Target In-Store Payment Systems Back Up After Weeken...|
|Virco Manufacturing's Q3 Forecast Raised but Fu...|
|Analysts' Increase 2019, 2020 Consensus Estimates fo...|