Technology Sector Update for 01/12/2018: CSIQ,JBL,FEYE,WATT,INFY

Top Tech Stocks

MSFT +1.67%

AAPL +0.90%

IBM -0.68%

CSCO +1.88%

GOOG +1.40%

Technology stocks were higher this afternoon, with shares of tech companies in the S&P 500 adding over 0.6% in value today although the Philadelphia semiconductor index also was just 0.1% higher.

Among technology stocks moving on news today:

Canadian Solar ( CSIQ ) dropped over 4% on Friday, sinking to a session low of $16.60 a share after the photovoltaic-panels company slashed its Q4 revenue outlook following the delayed sale of six solar power projects in California. The company is now modeling revenue for the three months ended Dec.31 to a new range of $1.04 bln to $1.08 bln compared with its prior forecasting expecting between $1.77 bln to $1.81 bln in quarterly sale. Analysts, on average, have been expected around $1.70 bln in sales.

In other sector news:

+ Jabil ( JBL ): Prices $500 mln offering of 3.95% senior notes due 2028. Net proceeds will be used to redeem $400 mln of its outstanding 8.25% senior notes due 2018 and paying a related "make-whole" premium.

+ FireEye ( FEYE ): Acquires privately held X15 Software and its big-data platform for $15 million in equity and $5 million in cash. The transaction closed Thursday and is expected to boost the company's data-management capabilities and providing customers with an open platform for integrating machine-generated data and big data sources.

- Energous ( WATT ): Issues preliminary Q4 revenue figures trailing Wall Street expectations, expecting to report around $30,000 in sales compared with the $450,000 analyst consensus. Also expects chip revenues to stay modest through Q3 of the current fiscal year with sporadic engineering service revenue also contributing.

- Infosys ( INFY ): Q4 net income rises 46.1% over year-ago levels to $0.35 per share, which includes $0.10 per share from the conclusion of an advance pricing pact with the Internal Revenue Service. Revenue climbs 8% to $2.76 bln, roughly in-line with the $2.79 bln Street view.

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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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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