Technology Sector Update for 08/14/2019: PHUN,WK,DZSI,LIQT

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Top Tech Stocks

MSFT -2.74%

AAPL -2.76%

IBM -3.23%

CSCO -4.46%

GOOG -2.74%

Technology stocks climbed slightly off their earlier session lows, with the shares of tech stocks in the S&P 500 dropping almost 3.0% while the Philadelphia Semiconductor Index also was falling nearly 3.0%.

Among technology stocks moving on news:

(-) Phunware ( PHUN ) dropped 22.2% to a worst-ever $1.33 a share after the enterprise cloud platform company reported an $0.08 per share net loss, reversing a $0.17 per share profit during the same quarter last year, while revenue fell 61.2% year-over-year to $5.5 million. Analyst estimates were not available.

In other sector news:

(+) DASAN Zhone Solutions ( DZSI ) was more than 3% higher after the networking equipment company late Tuesday reported non-GAAP net income of $0.26 per share and beating the Capital IQ consensus by $0.20 per share.

(-) LiqTech International ( LIQT ) retreated Wednesday, sinking over 4%, after the gas and liquid purification technology company reported mixed Q2 financial results, including net income of $0.01 per share during the three months ended June 30 up from $0.00 per share during the same quarter last year but trailing the Capital IQ consensus expecting a normalized Q2 profit of $0.03 per share and GAAP earnings of $0.02 per share.

(-) Workiva ( WK ) dropped 9.2% on Wednesday after pricing a $300 million private placement of its 1.125% convertible senior notes due 2026 and also pricing a $72.4 million secondary offering of nearly 1.3 million shares now owned by CEO Martin Vanderploeg and five other Workiva executives at $56.25 each, representing a 1.4% discount to Tuesday's closing price.

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: PHUN , DZSI , LIQT , WK

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