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Technology Sector Update for 01/28/2019: COMM,VSM,ENTG,NVDA


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Top Tech Stocks

MSFT -2.05%

AAPL -1.23%

IBM +0.18%

CSCO -0.96%

GOOG -1.99%

Technology stocks were falling in recent trading, with the shares of tech stocks in the S&P 500 losing almost 1.5% in value while the Philadelphia Semiconductor Index was dropping just over 2.0%.

Among technology stocks moving on news:

(+) AudioCodes ( AUDC ) extended its early gains, rising almost 10% shortly before Monday's closing bell after reporting non-GAAP Q4 net income of $0.20 per share, up from $0.12 per share during the same quarter last and beating the Capital IQ consensus by $0.03 per share.

In other sector news:

(+) Versum Matierals ( VSM ) jumped out to a 15.5% gain on Monday after agreeing to a $3.83 billion merger offer from rival semiconductor supplier Entegris ( ENTG ).

(+) CommScope ( COMM ) rose almost 9% on Monday after the wireless network equipment company reported preliminary Q4 revenue in a range of $1.05 billion to $1.07 billion, exceeding the $1.04 billion Street view.

(-) NVIDIA Corp ( NVDA ) slumped 14% on Monday after the chipmaker cut it Q4 revenue forecast to a range of $2.16 billion to $2.24 billion, down $500 million from the mid-point of its prior range and lagging the $2.70 billion analyst mean.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.





This article appears in: Technology , Commodities
Referenced Symbols: AUDC , VSM , ENTG , COMM , NVDA




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