Technology Sector Update for 07/25/2018: KN,GLW,WIX,VOD

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Top Tech Stocks

MSFT +2.26%

AAPL +0.34%

IBM -0.18%

CSCO +1.26%

GOOG +0.87%

Technology stocks continue to outpace all other sectors this afternoon, with the shares of tech stocks in the S&P 500 were adding over 0.7% in value despite the Philadelphia Semiconductor Index falling over 0.3%.

Among technology stocks moving on news:

+ Knowles Corp' ( KN ) reached a nearly 14-month high on Wednesday, climbing over 11% to its best share price since early June 2017 at $17.43 each, after the micro-acoustics reported non-GAAP Q2 earnings of $0.18 per share and topping the Capital IQ consensus by $0.04 per share. Revenue rose to $188.4 million from $164.4 million last year, also exceeding the $179.86 million Street view. The company also guided Q3 earnings and revenue in-line with analyst projections.

In other sector news:

- Corning ( GLW ) has pushed out to a more than 8% gain Wednesday after reporting a 3% drop in its core Q2 profit to $0.38 per share but still exceeding the Capital IQ consensus by $0.01 per share. Cores sales gained 9% to $2.8 billion, also topping the Street view by $130 million. It also sees FY18 sales rising to $11.3 billion, up from $11 million previously, surpassing the $11.02 billion analyst mean.

+ Wix.com ( WIX ) was almost 3% higher this afternoon, staying within close range of its intra-day high, after the internet content creator Wednesday reported better-than-expected Q2 financial results and raising its FY18 revenue outlook. Excluding one-time items, it earned $0.29 per share, beating the Capital IQ consensus by $0.15 per share. Revenue grew to $146.1 million from $103.5 million last year, also the $144.8 million analyst mean.

- Vodafone ( VOD ) dropped to within 3 cents of its 52-week low on Wednesday, falling almost 2% to $23.26 per American depository share, after its fiscal Q1 sales slipped to EUR10.9 billion, or about $12.7 billion, from EUR11.74 billion in the year-ago period. No analyst estimates were available for comparison.

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: KN , GLW , WIX , VOD

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