Top Tech Stocks
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.