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Technology Sector Update for 06/20/2019: ORCL,EVBG,ULBI


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Top Tech Stocks

MSFT +0.25%

AAPL +0.57%

IBM +0.95%

CSCO +1.49%

GOOG +0.59%

Technology stocks were rising again in Thursday trading, with the shares of tech companies in the S&P 500 adding nearly 1% in value while the Philadelphia Semiconductor Index was rising slightly more than 0.8%.

Among technology stocks moving on news:

(+) Oracle ( ORCL ) was 7.5% higher after the enterprise software firm reported fiscal Q4 financial results exceeding Wall Street expectations. Excluding one-time items, the company earned $1.16 per share during the three months ended May 31, up from $0.95 per share during the same quarter last year and beating the Capital IQ consensus by $0.08 per share. Revenue rose to $11.1 billion, also topping the $10.9 billion Street view.

In other sector news:

(+) Everbridge ( EVBG ) was nearly 4% higher after Credit Suisse, RW Baird and Needham & Co each raised their respective price targets on the software firm by $15 to $100 a share. The moves follow Everbridge earlier this week naming David Meredith, currently the chief operating officer at Rackspace, as its new CEO.

(+) Ultralife ( ULBI ) was hanging on to a fractional gain after the networks and electronics power company said it has received a contract valued up to $10 million from the Naval Air Warfare Center Aircraft Division for the company's universal vehicle adaptors. The contract runs for five years and Ultralife said it already received an initial, $1.4 million order for shipments during 2019.

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: ORCL , EVBG , ULBI



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