Technology Sector Update for 02/08/2019: EGAN,UBNT,MSI,VCRA

Shutterstock photo

Top Tech Stocks

MSFT -0.09%

AAPL +0.1%

IBM +0.2%

CSCO +0.6%

GOOG -0.4%

Technology stocks were narrowly mixed Friday afternoon, with the shares of tech stocks in the S&P 500 up about 0.2% while the Philadelphia Semiconductor Index was down almost 0.2% in recent trading.

Among technology stocks moving on news:

(+) eGain ( EGAN ) was up more than 46% after the customer engagement software firm reported fiscal Q2 net income and revenue exceeding Wall Street estimates and also raised its FY19 revenue forecasts. It is now expecting software-as-a-service revenue to grow between 30% to 35% this year, up 5 percentage points over its prior guidance, and it also said subcription revenue should increase between 13% to 16% compared with 10% to 15% growth previously.

In other sector news:

(+) Ubiquiti Networks ( UBNT ) raced almost 17% higher on Friday after the networking equipment company reported non-GAAP net income of $1.33 per share for its fiscal Q2 ended Dec. 3, improving on a $0.76 per share adjusted profit during the same quarter in 2017 and beating the Capital IQ consensus by $0.30 per share. Revenue grew 22.5% year over year to $307.3 million, also topping the $276.4 million analyst mean.

(+) Motorola Solutions ( MSI ) climbed 14% after reporting above-consensus Q4 financial results and an above-consensus outlook for adjusted earnings for FY19. The communications equipment-maker is projecting non-GAAP net income this year of between $7.55 to $7.70 per share while analysts, on average, are looking for the company to earn $7.46 per share during the 12 months ending in December.

(-) Vocera Communications ( VCRA ) slumped Friday, dropping 20%, after the workflow software firm reported an 11% increase in Q4 sales over year-ago levels to $48.9 million although that still trailed the Wall Street consensus expecting $49.82 million in sales for the October-to-December period.

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: EGAN , UBNT , MSI , VCRA

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?