Technology Sector Update for 02/12/2018: RPD,CRNT,FB,UL,UN

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Top Tech Stocks

MSFT +1.49%

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GOOG +1.75%

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.

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: RUN , CRNT , FB , RPD , UL

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