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Technology sector propels stock markets to positive start to September

TORONTO – The technology sector propelled North American stock markets to a positive start to September with Shopify Inc. hitting a record high on the TSX.

Canada’s largest company by market capitalization surged 6.7 per cent, as the sector climbed 3.8 per cent overall, with Kinaxis Inc. up 7.9 per cent and BlackBerry Ltd. nearly 7.1 per cent higher.

In the U.S., the S&P 500 and the Nasdaq composite closed at record highs as shares of Netflix Inc., Apple Inc. and Zoom Video Communications Inc. rose.

A continued surge for technology was one of the main themes Tuesday, said Kevin McLachlan, portfolio manager at Fiduciary Trust Canada, part of Franklin Templeton Canada.

“These companies were less affected by the pandemic lockdowns and the economic slowdown and as a matter of fact, their businesses have in many cases benefited because people are using technology…to continue to work from home, to connect

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Technology
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Which stock-market sectors should you invest in?

In the bull market that started in late March, the technology sector initially led the way, with companies such as Amazon.com climbing faster than the rest of the market. Technology Select Sector SPDR (XLK), an exchange-traded fund that tracks an index of technology stocks, surged 73% from March 20 through Aug. 31, while the S&P 500 index advanced 52% over the same period, according to Dow Jones Market Data. Because tech is such a significant part of the S&P index—accounting for one-fifth to one-fourth of the weighting—that means many of the other stocks in the index performed far worse than the index itself.

Of course, nothing stays in the lead forever, and one sector rarely sustains a rallying market. Veteran investor Ralph Acampora is famous for saying “rotation is the lifeblood of bull markets.”

Already there has been some rotation, according to JC Parets, president and founder of technical-analysis company

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Technology
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How Can Abandoned Cart SMS Help You?

There’s nothing worse than consistently losing money from customers who abandon their online shopping carts without actually making the purchase. Many business owners assume that there’s nothing they can do to solve this impactful problem — but that’s definitely not the case! There are actually abandoned cart SMS messaging services that can help you push these potential customers to the finish line and convert these sales into more revenue for your company. Since many businesses are still unaware of abandoned cart SMS recovery services, here’s how they can help:

What Is Abandoned Cart SMS?

Abandoned cart SMS is an SMS messaging service that can help you convert cart abandonment into actual sales. Cart abandonment can be a huge loss of revenue for eCommerce businesses — over 70% of carts of abandoned before a purchase is made. So just imagine how much revenue you could bring in if you could recover … Read More

Technology
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Green Recovery in the Mining Industry Through Energy Efficient Drives Technology

The mining industry must forgo its traditional energy consumption patterns, in a bid to ensure that the sector de-carbonize towards a greener and sustainable method of exploration. Given the need to increase energy supply in a globally carbon constrained environment, the mining trade needs to improve its energy efficient technologies, such as electrical variable speed drives, which could reduce energy consumption drastically.

The fundamentals of AC Variable Frequency Speed drive technology persist, but many elements are rapidly changing in aid to move towards a more sustainable and environmentally friendly mining future. Increasingly, software is embedded in today’s mine processing components, offering new functionalities and enabling the AC drive to play a larger role in the processing plant.

“Conventionally, motors run at a fixed speed, regardless of actual output requirement, wasting a tremendous amount of energy. Energy output use can be reduced by 60%, by controlling motors with electrical Variable Speed

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Technology
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IGT Sole Gaming Industry Supplier with Three Wins in Casino Journal’s 2020 “Top 20 Most Innovative Gaming Technology Products Awards”

LONDON, Sept. 17, 2020 /PRNewswire/ — International Game Technology PLC (NYSE: IGT) announced today that its Hexbreaker 3 slots game, PeakBarTop cabinet and PlaySports Bank and PlaySports Pod were all winners of Casino Journal’s 2020 “Top 20 Most Innovative Gaming Technology Products Awards.” IGT was the only gaming supplier to win three positions on the esteemed 20-product list of gaming innovations.

In its 23rd year, Casino Journal’s annual award program recognizes the most innovative technology offerings in the gaming industry and is judged by a panel of accomplished professionals representing varied dimensions of the casino gaming sector.

“IGT’s success in Casino Journal’s 2020 ‘Top 20 Most Innovative Gaming Technology Products Awards’ is a reflection of our pioneering spirit and commitment to developing and delivering growth-driving solutions for our customers worldwide,” said Renato Ascoli, IGT CEO, Global Gaming. “IGT’s Hexbreaker 3 game, PeakBarTop cabinet and PlaySports Bank and

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Technology
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Advancements in technology often rooted in agriculture | News, Sports, Jobs

Picture this — cows walking on their own to the barn. A robotic arm reaches out to clean their udders. The “arm” attaches suction cups. The cows are milked. They leave and head back to the fields.

No humans touch the cows during the process.

No, this is not from a futuristic movie. This is 21st century technology that is firmly embedded in today’s farming business.

The marriage of farming and technology is not a new one, according to Liam Migdail, communications director at the Pennsylvania Farm Bureau.

“Using technology has been there for centuries,” Migdail said. “If you look at some of the inventions that we think of as being the most economically significant, a lot of them are an agricultural invention.”

Migdail cited the plow and the cotton gin as early examples of technology created for farming.

“When you look, over time, some of the advances in technology,

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Technology
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T Mobile US (TMUS) and Pure Storage (PSTG)

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on T Mobile US (TMUS) and Pure Storage (PSTG) with bullish sentiments.

T Mobile US (TMUS)

In a report released yesterday, Brett Feldman from Goldman Sachs maintained a Buy rating on T Mobile US, with a price target of $135.00. The company’s shares closed last Wednesday at $113.76, close to its 52-week high of $119.20.

Feldman has an average return of 27.7% when recommending T Mobile US.

According to TipRanks.com, Feldman is ranked #436 out of 6947 analysts.

T Mobile US has an analyst consensus of Strong Buy, with a price target consensus of $128.91.

See today’s analyst top recommended stocks >>

Pure Storage (PSTG)

In a report released yesterday, Nehal Chokshi from Northland Securities maintained a Buy rating on Pure Storage, with a price target of $23.00

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Technology
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High-Flying COVID-19 Sectors May Be Setting Up For A Correction

Key Highlights:

  • COVID-19 has hit many retail and commercial sectors hard – but boosts Technology and Automobiles.
  • The NASDAQ 100 Technology Sector Index suggests the 100% Measured Move is complete. 
  • NASDAQ BNCHMK Computer Hardware Index has reached a lofty 150% upside Measured Move expansion. 
  • US Automobiles Index currently nearing a 135% upside Measured Move.
  • Will these trends continue, or are they a temporary “transitional process”?

As we’ve all been adjusting to the “work from home” transition that was forced upon us back in March/April 2020, a certain group of market sectors has really taken off and rallied into 100% and 100%+ Measured Moves.  One thing I can personally associate with the home office transition the need to upgrade various components of my home office as the COVID-19 lock-down initiated.  This has boosted the Technology sector. Another, less obvious, result of COVID revealed by our research showed what appears to be

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Technology
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How Technology Will help Public Sector Provide Better Service

The public sector is slowly embracing digital transformation and implementing them in their service to offer better service to citizens.

FREMONT, CA: Public sector organizations are adopting new technologies to offer a better adaptive experience for digital citizens. Technology trends help public sector companies concentrate on government operations, which go beyond pilot programs, and each of the trends has been seen globally, impacting the rising government markets and the economically advanced nations. 

Another common factor among the trends is that they can notice the public sector continuously developing with artificial intelligence (AI). They are doing it by prioritizing data as their core and facilitating progress at a rapid speed. 

The Growth of Data and AI Ethics

In this digital era, data has become an essential factor. But it is necessary to have a closer look at processes in which the public sector manages the ethical intricacies in big data.

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Technology
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4 Sectors Positively Impacted by Blockchain During the Current Pandemic

Blockchain technology was invented in the last years of the previous decade, and yet the true potential of this technology is, however, to be discovered even in a dozen years. Even in its known applications, not all businesses and all demographics have shown the excitement it warrants. Yet, certain global events at times dictate the rise and fall of specific technologies. Currently, the world is at war with a pandemic titled COVID-19. There is still time to finally see what the after-effects of this global crisis will be. However, we can be confident that social distancing will be required for quite some time before interaction can be, as is said, business as usual.

One must think what a global pandemic and an emerging technology have in common here to be discussed in the same breath?

Well, not much, but at the outset, we can say that blockchain technology will majorly

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Technology