Technology

Technology Sector Update for 01/27/2017: KLAC,DQ,KEYW

Top Tech Stocks

MSFT +2.12%

AAPL -0.15%

IBM -0.56%

CSCO +0.70%

GOOG -1.07%

Technology stocks were holding onto moderate gains late Friday afternoon, with shares of tech companies in the S&P 500 posting a 0.3% gain.

In company news, KLA-Tencor ( KLAC ) raced to a nearly 17-year high on Friday after the semiconductor test equipment company reported fiscal Q2 net income and revenue exceeding Wall Street expectations.

The company earned $1.52 per share during the three months ended Dec. 31, beating the Capital IQ consensus by $0.12 per share. Revenue grew 23.5% over year-ago levels to $877 million, also blowing by the $838.99 million consensus. New orders topped $1 billion during the quarter for the first time ever.

KLAC shares were up over 3% at $86.09 apiece after previously rising to their best level since April 2000 at $97.97 a share.

In other sector news,

(+) DQ, Craig Hallum begins analyst coverage with a Buy rating.

(-) KEYW, Prices $89.3 mln offering of 8.5 mln shares at $10.50 each, a 13.2% discount to Thursday's closing price for the stock.

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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