Technology Stocks Close Lower Amid Microsoft and Google Updates

Strategic Insights -

Technology stocks closed lower on the Dow Jones U.S. Technology Index, with Microsoft experiencing a minor dip after announcing an updated version of its mapping service, while Google's addition of street-level views in 56 U.S. cities drew comparison. General Electric and Comcast's slight drop followed a Wall Street Journal report on their impending NBC deal. Meanwhile, USA Technologies' shareholder group, SAVE, sought support for electing independent directors to the company's board, causing a decline in shares.

Key Takeaways:

  • Microsoft released an updated version of its mapping service, including street-level views and "apps" that provide location-specific data, such as tweets and traffic updates.
  • Google's street view feature is now available in all 50 U.S. states and has expanded overseas, with Microsoft matching its coverage in 56 U.S. cities.
  • General Electric and Comcast are expected to announce a new deal with NBC on Thursday, according to a Wall Street Journal report.
  • USA Technologies' shareholder group, SAVE, is seeking support from all shareholders to elect three independent directors to the company's board.
  • The Dow Jones U.S. Technology Index closed at 568.01, with Microsoft (MSFT) down 0.77% and AAPL down 0.32%.
  • The Wall Street Journal reported that General Electric and Comcast will announce a new NBC deal on Thursday.

Statistics:

  • Dow Jones U.S. Technology Index close: 568.01
  • Microsoft (MSFT) stock change: -0.77%
  • AAPL stock change: -0.32%
  • IBM stock change: -0.57%
  • CSCO stock change: -0.21%
  • GOOG stock change: -0.4%
  • Number of U.S. cities with street-level views on Microsoft Bing Maps: 56
  • Number of U.S. states and overseas countries with Google Street View: 50+

Sources:

  • MidnightTrader.com
  • The Wall Street Journal
  • Comtex News Network, Inc.