Technology Sector Update for 05/14/2019: INPX,CYBR,PS,IMMR

Shutterstock photo

Top Tech Stocks

MSFT +1.58%

AAPL +2.04%

IBM +2.01%

CSCO +1.91%

GOOG -0.66%

Technology stocks Tuesday outpaced all other sectors as well as the broader US markets, recouping a portion of their steep declines on Monday. At last look, the shares of tech stocks in the S&P 500 were climbing almost 1.9% in late trade while the Philadelphia Semiconductor Index was rising nearly 2.5% this afternoon.

Among technology stocks moving on news:

(+) Inpixon ( INPX ) jumped 6% after the data analytics company significantly narrowed its non-GAAP Q1 net loss compared with the year-ago period, lowering a $73.88 per share adjusted loss during the January-to-March quarter last year by over 98% to $1.42 per share. Net sales rose 60.5% to $1.36 million from $849,000 last year. Analyst estimates were not available for comparison.

In other sector news:

(+) Pluralsight ( PS ) rose just over 6% after Citigroup began coverage of the technology skill development company with a buy investment recommendation and a $42 price target.

(+) CyberArk Software ( CYBR ) was about 2% higher after reporting non-GAAP Q1 net income of $0.56 per share, up from $0.32 per share during the same quarter last year and beating the Capital IQ consensus by $0.15 per share. Revenue increased to $95.9 million from $71.8 million during the year-ago period, also topping the $92.4 million Street view.

(-) Immersion Corp ( IMMR ) turned sharply lower Tuesday, giving back a 10% gain from soon after the opening bell. The technology firm late Monday reported a $0.28 per share non-GAAP net loss, reversing a $2.34 per share adjusted profit last year as revenue declined 94% to just $5.12 million. The results upstaged Immersion also announcing licensing agreements with Sony's ( SNE ) interactive entertainment division and Samsung Electronics on top of settling its legal fight with Samsung.

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: INPX , PS , CYBR , IMMR , SNE

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?