Technology Sector Update for 03/13/2019: SWCH,WORX,DQ

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Top Tech Stocks

MSFT +1.09%

AAPL +0.72%

IBM +0.43%

CSCO +1.24%

GOOG +0.50%

Technology stocks were helping lead US stocks higher this afternoon, with the shares of tech companies in the S&P 500 adding over 1.1% in value while the Philadelphia Semiconductor Index was rising 1%.

Among technology stocks moving on news:

(+) Switch ( SWCH ) rose 7% after the colocation services company late Tuesday reported Q4 net income of $0.05 per share, reversing a $2.09 per share net loss during the year-ago period and beating the Capital IQ consensus by $0.02 per share.

In other sector news:

(+) SCWorx ( WORX ) climbed 6.5% after Wednesday announcing a new, three-year software services contract valued at $1.625 million with an unnamed integrated delivery network company servicing hospitals on the US West Coast.

(-) Daqo New Energy ( DQ ) fell 2% on Wednesday, giving back an early advance, after the maker of polysilicon and wafers used in the solar energy industry saw its adjusted Q4 net income drop 63%, falling to $1.16 per share during the three months ended Dec. 31 from $3.16 per share during the year-ago period. Revenue fell 36.4% year-over-year to $75.6 million.

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: SWCH , WORX , DQ

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