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Technology Sector Update for 06/05/2018: SOL,SABR


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Technology stocks were firming again on Tuesday, with shares of tech companies in the S&P 500 adding almost 0.2% in value Tuesday while the Philadelphia semiconductor index also was posting a nearly 0.3% gain.

Among technology stocks moving on news:

+ Renesola ( SOL ) climbed over 4% on Tuesday after the solar power company raised its forecast for Q1 revenue by $10 million over its previous guidance. It now sees revenue for the three months ended March 31 in a range of $40 million to $45 million compared with its prior view expecting between $30 to $35 million in sales during the recently completed quarter. The single-analyst estimate is projecting about $29.8 million in Q1 revenue. The company will report its full Q1 financial results on June 20.

In other sector news:

- Sabre ( SABR ) was down over 4% on Tuesday, staying within close range of its session low that followed the technology consulting company pricing a $392.8 million secondary public offering of 16 million shares of its common stock previously held by TPG Global and Silver Lake Management Company at $24.55 apiece, representing a 3% discount to Monday's closing price for the stock. Concurrent with the stock sale, Sabre repurchased and then retired 1 million of the available shares.

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: SOL , SABR


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