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Technology Sector Update for 03/22/2019: MOSY,CMTL,OSS,ZUO


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Top Tech Stocks

MSFT -2.45%

AAPL -2.00%

IBM -1.32%

CSCO -1.97%

GOOG -2.06%

Technology stocks extended their slide in late trading, with the shares of tech stocks in the S&P 500 losing over 3.2% in value while the Philadelphia Semiconductor Index was falling almost 2.9%.

Among technology stocks moving on news:

(-) MoSys ( MOSY ) was fractionally lower shortly before Friday's closing bell after the Nasdaq stock market provided the chipmaker with an additional six months to regain compliance with rules requiring listed companies to maintain at least a $1 share price. The extension runs through Sept. 16.

In other sector news:

(-) One Stop Systems ( OSS ) turned lower this afternoon, giving back an earlier 15% gain. The "AI on the Fly" technology company reported Q4 results topping Wall Street estimates, earning $0.09 per share during the three months ended Dec. 31, excluding one-time items, up from $0.00 per share during the year-ago period to beat the Capital IQ consensus by $0.03 per share. Q4 revenue rose 104% to $14.4 million, also exceeding the analyst mean by $400,000.

(-) Comtech Telecommunications ( CMTL ) dropped 5% this afternoon. The networking equipment company Friday announced the launch of a new line of transportable, full motion antennas for tracking low earth orbit and medium earth orbit satellites and high altitude pseudo-satellites.

(-) Zuora ( ZUO ) slid 13% on Friday after forecasting FY20 revenue trailing analyst expectations. The cloud-based subscription management platform company is projecting between $214 million to $216.5 million in revenue for the 12 months ending next January compared with the Wall Street consensus looking for a $294.8 million in revenue at Zuora this year.

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: MOSY , OSS , CMTL , ZUO



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