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Technology Sector Update for 01/23/2019: IBM, TEL, TDY, MSFT, AAPL, GOOG, CSCO


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Top Technology Stocks:

MSFT: +0.51%

AAPL: +0.59%

IBM: +6.92%

CSCO: +0.69%

GOOG: +0.55%

Tech stocks were rallying in Wednesday's pre-bell trading.

Early movers include:

(+) International Business Machines ( IBM ), which was more than 7% higher as it posted better-than-expected earnings for its fourth quarter and full year guidance which surpassed analysts projections as sales growth in its Cognitive Solutions business segment partially offset a decline in its technology services and cloud platform segment. The company reported Q4 adjusted earnings of $4.87 per share.

(-) TE Connectivity ( TEL ) was down more than 4% after reporting fiscal Q1 adjusted earnings of $1.29 per share, down from $1.42 in the comparable period a year ago but topping the $1.28 estimate from analysts polled by Capital IQ.

In other sector news:

(=) Teledyne Technologies ( TDY ) was unchanged as it booked Q4 GAAP earnings of $2.45 per diluted share, up from $1.84 per share a year ago and also above the $2.18 average estimate from analysts polled by Capital IQ.

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: IBM , TEL , TDY , MSFT , AAPL



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