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.

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

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