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


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Technology stocks were narrowly lower Friday afternoon, with the shares of tech stocks in the S&P 500 falling about 0.2% while the Philadelphia Semiconductor Index was down 0.7% in recent trading.

Among technology stocks moving on 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.

In other sector news:

(+) Motorola Solutions ( MSI ) climbed 13% 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 22%, 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.

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This article appears in: Technology , Commodities
Referenced Symbols: UBNT , MSI , VCRA



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