Top Tech Stocks
Technology stocks extended their declines Monday, with shares of tech companies in the S&P 500 sliding nearly 1.0% lower today while the Philadelphia semiconductor index was posting a nearly 1.1% decrease.
Among technology stocks moving on news:
- Changyou.com ( CYOU ) declined Monday after the mobile games and news and information website company missed analyst projections with the Q4 financial results and issued a Q1 outlook also lagging Wall Street expectations by wide margins. Excluding one-time items, the company earned $0.64 per American depository share, down from $0.75 per ADS during the same quarter last year and missing the Capital IQ consensus by $0.20 per ADS. Non-GAAP revenue rose 10.7% year over year to $144.5 mln, also falling short of the $150 mln Street view. For the current quarter ending in March, the company is expecting non-GAAP net income in a range of $0.47 to $0.56 per ADS on between $120 mln to $130 mln in revenue. The lone analyst tracking Changyou.com is expecting it to earn $0.88 per ADS on $147.5 mln in revenue.
In other sector news:
+ Momo ( MOMO ) climbed to a session high of $32.18 a share, rising over 6% on Monday, after analysts at JP Morgan today raised their investment call for the Chinese social networking firm to Overweight from Neutral.
- DST Systems ( DST ) remains narrowly lower Monday afternoon, sinking less than 1% to stay within range of its session low of $83.78 a share that followed the data-processing company today saying its non-GAAP Q4 per-share earnings rose to $1.11 per share from $0.83 per share during the year-ago period and exceeding Wall Street expectations by $0.27 per share. Revenue jumped almost 49% higher to $593.7 mln from $398.8 mln during the same quarter last year and beating the Capital IQ consensus by around $55.3 mln.
- Sohu.com ( SOHU ) at one point plunged almost 17% during Monday trading after today reporting a wider-than-expected adjusted Q4 net loss of $2.01 per share, missing the Capital IQ consensus looking for a $1.72 per share loss. Revenue for the Chinese mobile-games company grew 23.8% over year-ago levels to $509.6 mln, also lagging the $522.7 mln analyst mean. Also issues below-consensus guidance for Q1 revenue, expecting between $410 mln to $435 mln. Analysts, on average, are looking for $475.5 mln in revenue for the three months ending March 31.