Technology Sector Update for 11/05/2018: CYOU,NSSC,STM,SOGO

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Top Tech Stocks

MSFT +1.15%

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IBM +3.83%

CSCO +1.47%

GOOG -2.19%

Technology stocks pared almost all of their earlier declines, with the shares of tech stocks in the S&P 500 losing under 0.2% in value today although the Philadelphia Semiconductor Index fell over 0.9%.

Among technology stocks moving on news:

(+) Changyou.com ( CYOU ) was back on positive ground in late trade, reversing a nearly 8% mid-day decline and retracing much of an earlier Monday gain that followed the ongoing gaming company swung to a Q3 profit. Excluding one-time ites, the Changyou earned $1.01 per share on $118 million in revenue compared with a non-GAAP $0.09 per share net loss last year on $165.6 million in quarterly revenue. Two analysts polled by Capital IQ had been expecting adjusted net income of $0.42 per share on $108.7 million in revenue.

In other sector news:

(+) Napco Security Technologies ( NSSC ) rose over 5% in late-morning trading on Monday after the maker of electronic intrusion security equipment and software reported better-than-expected fiscal Q1 revenue and improved net income compared with the same quarter last year. The company earned $0.08 per share during the three months ended Sept. 30, up from $0.05 per share last year and matching the Capital IQ consensus. Net revenue rose 10.4% year over year to $23.4 million, topping the $22.7 million Street view.

(-) STMicroelectronics ( STM ) declined Monday, sinking almost 4% despite the specialty chipmaker authorizing a new stock buyback for up to $750 million to be carried out over the next three years. Based on Friday's closing price of $15.81 a share, the new $750 million authorization would acquire and then retire about 47 million share, or around 5.2% of STMicroelectronics' outstanding stock.

(-) Sogou ( SOGO ) fell as much as 10% on Monday after the Chinese language search engine company missed analyst estimates with its Q3 revenue, which rose 7% year over year to $276.6 million and lagged the Capital IQ consensus by $4.6 million. The company also is expecting Q4 revenue in a range of $292 million to $307 million compared with the $352 million analyst mean.

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: CYOU , NSSC , STM , SOGO

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