Technology Sector Update for 02/05/2019: STX,VSH,ALLT,GLUU

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Top Tech Stocks

MSFT +1.30%

AAPL +1.73%

IBM +0.14%

CSCO -0.13%

GOOG +1.05%

Technology stocks continued to firm in recent trading, with the shares of tech stocks in the S&P 500 adding more than 0.9% in value while the Philadelphia Semiconductor Index was rising just over 0.5%.

Among technology stocks moving on news:

(-) Seagate Technology ( STX ) fell over 1% on Tuesday after saying it sees fiscal Q3 revenue in a range 5% either side of $2.3 billion, translating to revenue for the current quarter of between $2.2 billion to $2.4 billion, down from $2.79 billion during Q2 for the data-storage company. Analysts, on average, are expecting around $2.31 billion in revenue for the January-to-March reporting period although some analysts like BMO are looking for up to $2.6 billion in Q3 revenue.

In other sector news:

(+) Vishay Intertechnology ( VSH ) was up 10% after the chipmaker reported adjusted Q4 net income of $0.58 per share, improving on a $0.37 per share non-GAAP profit during the year-ago period and beating the Capital IQ consensus expecting $0.52 per share.

(+) Allot Ltd ( ALLT ) climbed 9% after the networking equipment company reported an adjusted Q4 net loss of $0.01 per share during the three months ended Dec. 31, trimming its $0.04 per share loss during the year-ago period and also beating the three-analyst consensus expecting a $0.03 per share net loss.

(-) Glu Mobile ( GLUU ) fell nearly 14% after mobile game-maker reported a Q4 net loss of $0.01 per share, paring its $0.29 per share net loss during the same quarter last year but still missing analyst projections looking for a $0.07 per share profit.

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: STX , VSH , ALLT , GLUU

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