Technology Sector Update for 03/14/2019: SMSI,MDB,IDSY

Shutterstock photo

Top Tech Stocks

MSFT +0.38%

AAPL +1.12%

IBM +0.02%

CSCO +0.46%

GOOG -0.21%

Technology stocks were firming in recent trading, with the shares of tech stocks in the S&P 500 adding 0.3% in value although the Philadelphia Semiconductor Index was falling 0.3%.

Among technology stocks moving on news:

(+) Smith Micro Software ( SMSI ) climbed almost 27% on Thursday after reporting non-GAAP Q4 net income of $0.10 per share, more than trebling its $0.03 per share adjusted profit during the year-ago period and easily surpassing the Capital IQ consensus expecting net income of $0.01 per share for the three months ended Dec. 31, excluding one-time items.

In other sector news:

(+) MongoDB ( MDB ) raced 26% higher after narrowing its adjusted Q4 net loss to $0.17 per share compared with a $0.27 per share loss during the year-ago period a year earlier and beating the Capital IQ consensus expecting a $0.38 per share net loss.

(-) I.D. Systems ( IDSY ) slumped Thursday, sinking nearly 3%, after saying it will be acquiring Pointer Telocation ( PNTR ) for a combination of $140 million in cash and stock. Under terms of the proposed transaction, investors will receive $8.50 in cash and 1.272 shares of I.D. Systems' newly created PowerFleet holding company stock for each Pointer share they own. Abry Partners also will buy $50 million of convertible preferred stock in the combined companies through a deal closing contemporaneously with the Pointer acquisition.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Technology , Commodities
Referenced Symbols: SMSI , MDB , IDSY , PNTR

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?