Quantcast

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


Shutterstock photo

Top Tech Stocks

MSFT flat

AAPL -1.59%

IBM -0.13%

CSCO +0.56%

GOOG +0.32%

Technology stocks were declining Monday, with shares of tech companies in the S&P 500 sliding nearly 0.5% lower while the Philadelphia semiconductor index also was posting a less than 0.5% decrease.

Among technology stocks moving on news:

- Sohu.com ( SOHU ) at one point Monday plunged almost 17% to a session low of $38.59 a share after the Chinese online-gaming company reported a wider-than-expected non-GAAP Q4 net loss of $2.01 per share, missing the Capital IQ consensus looking for a $1.72 per share loss. Revenue grew 23.8% over year-ago levels to $509.6 million, also lagging the $522.7 million analyst mean. Looking forward, the company is projecting a non-GAAP Q1 net loss between $1.65 to $1.90 per share and revenue in a range of $410 million to $435 million. Analysts, on average, are modelling a $1.81 per share adjusted net loss on $475.5 million 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 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 million from $398.8 million during the same quarter last year and beating the Capital IQ consensus by around $538.4 million.

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: SOHU , MOMO ,


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities








Research Brokers before you trade

Want to trade FX?