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Technology Sector Update for 03/19/2019: STNE, YEXT, BITA, MSFT, AAPL, CSCO, IBM, GOOG


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Top Technology Stocks:

MSFT: +0.41%

AAPL: +0.48%

IBM: +0.48%

CSCO: +0.62%

GOOG: +0.40%

Top technology stocks were trading higher pre-market Tuesday.

Early movers include:

(+) StoneCo ( STNE ), which was more than 19% higher after i t report ed net income of R127.1 million ($33.5 million) in Q4, reversing from a net loss of R14.3 million a year earlier, as revenue rose to R529.4 million from R247.8 million over the same period. Analysts polled by Capital IQ expected net loss of R25.4 million, which may not be comparable, on revenue of R465.62 million.

(-) Yext ( YEXT ) was declining 4% after it priced its underwritten public offering of 6.1 million common shares at $21.50 apiece, a discount of about 6.5% to the stock's previous close, for total proceeds of approximately $131.2 million.

In other sector news:

(-) Bitauto Holdings ( BITA ) was down more than 1% as it reported Q4 adjusted earnings of RMB1.45 ($0.21) per ADS, up from RMB0.72 in the same period a year ago but missing the estimate of $0.24 from analysts polled by Capital IQ.

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: STNE , YEXT , BITA , MSFT , AAPL




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