Markets

Technology Sector Update for 02/13/2015: MSFT, APPL, IBM, CSCO, GOOG, GRPN, ZNGA, CYBR

Top Technology Stocks:

MSFT: +1.38%

AAPL: -0.16%

IBM: +1.34%

CSCO: -0.13%

GOOG: +1.18%

Technology shares are largely higher in Friday midday action.

Groupon ( GRPN ) reported Q4 earnings that were basically in line with expectations, and were driven by solid gross billings growth that offset currency headwinds and flat unit growth. Gross profit and EBITDA growth lagged billings and revenue growth due to lower takes and higher order discounts. Its price target was raised Friday by analysts at Janney Capital to $9 from $8 a share while the firm maintained its neutral investment rating on the stock.Shares are up 8.18% with a 52-week range of $5.18 to $10.88.

Znga ( ZNGA ) reported Q4 adjusted earnings of $0.00 per share, in line with the analyst consensus on Capital IQ. Revenue was $192.5 million, ahead of expectations of $191 million. But for Q1, the company expects revenue of $155-$165 million, vs. the Street view of $194 million. Non-GAAP loss is targeted between $0.03-$0.02 per share, vs. expectations of breakeven results. ZNGA shares are down more than 16% at $2.22. The stock posted a 2-year low of $2.20 on Friday.

Cyberark ( CYBR ) posted better-than-expected financial results for Q4 and provided guidance for Q1 and fiscal 2015 above Street consensus after the close on Thursday. Shares are more than 16% higher at $53.27, just below its new all-time high of $55.40.

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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