Technology

Technology Sector Update for 01/31/2019: NOW,IIVI,FLEX,INTC

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Top Tech Stocks

MSFT -1.29%

AAPL +1.04%

IBM -0.35%

CSCO +1.00%

GOOG +1.94%

Technology stocks have turned mixed in late trading, with the shares of tech stocks in the S&P 500 were slipping less than 0.1% in value while the Philadelphia Semiconductor Index still was more than 0.2% higher.

Among technology stocks moving on news:

(+) ServiceNow ( NOW ) climbed almost 14% after late Wednesday reporting better-than-expected Q4 net income, with cloud-computing company earning $0.77 per share during the three months ended Dec. 31, excluding one-time items, up from $0.43 per share during the year-ago period and beating the Capital IQ consensus by $0.14 per share.

In other sector news:

(+) II-VI ( IIVI ) jumped out to a 14% gain on Thursday after the laser technology company reported non-GAAP Q4 net income of $0.71 per share, up 34% over the final three months of 2017 and also exceeding the $0.67 per share Street view.

(+) Flextronics International ( FLEX ) put up a nearly 4% advance after the contract electronics manufacturer reported an increase in adjusted fiscal Q3 net income to $0.34 per share from $0.31 per share during the year-ago period and beating the Capital IQ consensus by $0.04 per share.

(-) Intel ( INTC ) retreated Thursday, falling about 1%, after the chipmaker named chief financial officer and interim CEO Robert Swan as its permanent chief executive. Swan took over at Intel last June after former CEO Brian Krzanich resigned after it emerged that he had a consensual relationship with another employee.

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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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