Technology Sector Update for 12/15/2017: LFIN,GLUU

Technology stocks still were within close range of Friday’s market-leading sectors in recent trading, with shares of tech companies in the S&P 500 rising over 1.4% while the Philadelphia semiconductor index ( SOX ) was gaining nearly 1.5%.

Among technology stocks moving on news:

+ Longfin ( LFIN ) more than tripled in value on Friday, with shares of the specialty software company racing to a best-ever $18.44 a share after the company said it has acquired, a blockchain-powered microlending platform using Ziddu Coins, a cryptocurrency loosely pegged to Ethereum and Bitcoin. Users can convert their Ziddu coins into Ethereum or Bitcoin and then use the transaction proceeds for working capital. Later, as the contract nears expiration, they use cryptocurrencies to repay the loan, with the interest rate varying between 12% to 48% depending on the counterparty risk profile.

In other sector news:

+ Glu Mobile ( GLUU ) was little changed in recent trading after the mobile games producer Friday launched The Swift Life, an interactive application helping fans of pop sensation Taylor Swift to connect with each other and view photos and posts from the musician.