Technology Sector Update for 08/14/2019: PSDO, DQ, YY, MSFT, AAPL, IBM, CSCO, GOOG

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Top Technology Stocks:

MSFT: -1.55%

AAPL: -2.38%

IBM: -1.46%

CSCO: -1.18%

GOOG: -1.61%

Technology heavyweights were sinking in Wednesday's pre-bell trading.

Stocks moving on news include:

(+) Presidio ( PSDO ), which was surging more than 21% after the company agreed to be acquired by funds advised by investment firm BC Partners in an all-cash transaction valued at approximately $2.1 billion.

(-) Daqo New Energy ( DQ ) was declining by more than 1% as i t report ed Q2 non-GAAP earnings of $0.17 per American depositary share, compared with $1.44 per share a year ago. Revenue rose to $66 million from $63 million in Q2 2018. Analyst estimates were not available.

(-) Chinese social media platform YY ( YY ) was down almost 4% after booking Q2 non-GAAP net income per American depositary share of RMB5.14, or $0.75, lower than RMB13.75 per share in the prior year quarter, and lower than the consensus earnings estimate of $1.07 per share compiled by Capital IQ.

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: PSDO , DQ , YY , MSFT , AAPL

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