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Technology Sector Update for 01/29/2018: CYOU,SOHU,MOMO,DST


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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.

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: CYOU , MOMO , SOHU



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