Technology Sector Update for 02/20/2019: EVBG,BDC,GRMN,WIX

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Top Tech Stocks

MSFT -0.56%

AAPL +0.77%

IBM -0.44%

CSCO -0.18%

GOOG -0.46%

Technology stocks were edging higher in late trading, with the shares of tech stocks in the S&P 500 adding about 0.1% in value while the Philadelphia Semiconductor Index was rising slightly more than 1.0%.

Among technology stocks moving on news:

(+) Everbridge ( EVBG ) climbed over 8% on Wednesday after the software firm reported a smaller-than-expected Q4 net loss. Excluding one-time items, the software firm recorded a non-GAAP net loss of $0.09 per share, beating the Capital IQ consensus by $0.01 per share. Revenue grew 43.1% year over year to $41.8 million, also edging past the $41.3 million Street view.

In other sector news:

(+) Garmin ( GRMN ) reached a more than 11-year high on Wednesday, rising nearly 17% to its best share price since December 2007 at $82.94 apiece after reporting Q4 financial results exceeding Wall Street expectations and providing an upbeat FY19 outlook. The navigation equipment company earned $1.02 per share in Q4, excluding one-time items, on $932 million in revenue compared with the Capital IQ consensus expecting an $0.80 per share non-GAAP profit on $893.1 million in revenue.

(+) Belden ( BDC ) rose 12% on Wednesday after reporting adjusted Q4 net income of $1.66 per share, improving on a $1.62 per share non-GAAP profit during the year-ago period and beating the Capital IQ consensus by $0.03 per share.

(-) Wix.com ( WIX ) dropped about 12% on Wednesday. The Israeli website development platform said it earned $0.42 per share during the three months ended Dec. 31, excluding one-time items, topping the Capital IQ consensus by $0.10 per share. Revenue rose 38.6% year over year to $164.2 million, also beating the $162 million Street view.

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: EVBG , GRMN , BDC , WIX

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