Top Tech Stocks
Technology stocks were largely keeping pace with energy stocks for Monday's sector lead, with shares of tech companies in the S&P 500 rising nearly 2.1% in value today while the Philadelphia semiconductor index also was posting a more than 2.0% gain.
Among technology stocks moving on news:
Sunrun ( RUN ) shares jumped out to a 14% gain this afternoon. reaching a session high of $6.12 a share after analysts at Credit Suisse Group Monday began coverage of the solar-power equipment and installation company with a Buy rating and a $15 price target. The company will continue to add market-share among residential customers, analyst Michael Weinstein wrote in a new research note, with those efforts "bolstered by a multi-channel approach, access to financing and focus on value creation."
In other sector news:
Ceragon Networks ( CRNT ) was surging Monday, climbing over 17% to a session high of $2.45 a share, after reporting adjusted Q4 net income of $0.05 per share, beating the Capital IQ consensus by $0.01 per share. Revenue rose to $86.7 million from $84.7 million during the year-ago period, also crushing the $75.2 million forecast.
- Facebook ( FB ) was fractionally lower Monday afternoon following consumer products giant Unilever (UL,UN) threatening to pull its ads from online platforms "if they promote hate or create division."
- Rapid7 ( RPD ) declined after reporting an adjusted Q4 net loss of $0.17 per share, beating the Capital IQ consensus by $0.01 per share. Total revenue grew to $57.7 million from $45 million last year, also topping the $57.4 million Street view. Looking forward, the company is projecting a Q1 net loss in a range of $0.19 to $0.22 per share on between $50.1 million to $52.1 million, missing the analyst mean by at least $0.05 per share and lagging the consensus view looking for $55.7 million in revenue. It also is looking for FY18 revenue a range of $225 million to $234 million, well under the $240.3 million consensus.