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Technology Sector Update for 01/22/2018: ENTG,NUAN,TWOU


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Technology stocks were higher Monday afternoon, with shares of tech companies in the S&P 500 adding more than 0.6% in value while the Philadelphia semiconductor index was posting a more than 0.4% gain.

Among technology stocks moving on news Monday:

Entegris ( ENTG ) was edging lower in afternoon trading, reversing a 2.5% advance earlier to reach a record high of $34.80 a share that followed the chip-making supplier Monday saying it is acquiring privately held Particle Sizing Systems LLC for around $37 million in cash. Particle Sizing Systems focuses on particle-sizing instrumentation for liquid applications in the semiconductor and life science industries. Entegris is expecting the transaction to add to its FY18 per-share earnings.

In other sector news:

- Nuance ( NUAN ) was up strongly during Monday trading after issuing preliminary fiscal Q1 financial results exceeding its prior guidance and Wall Street expectations. The company is now projecting a non-GAAP Q1 profit between $0.26 to $0.27 per share, up from $0.19 to $0.22 per share previously and beating the Capital IQ consensus looking for $0.22 per share. It also is looking for revenue in a range of $500 million to $503 million compared with $478 million to $492 million in its prior forecast and also topping the $492.1 million consensus view.

- Education technology company 2U ( TWOU ) was higher Monday afternoon after signing a strategic partnership with WeWork, a provider of shared workspaces. Under the terms of the partnership, WeWork will open its workspaces to students in 2U-powered online graduate programs while 2U will provide $5 million for scholarships for WeWork community members and employees to participate in 2U graduate programs and short courses.

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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This article appears in: Technology , Commodities
Referenced Symbols: ENTG , NUAN , TWOU


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