Technology

Technology Sector Update for 02/14/2018: EBAY,TWTR,MSFT,CARB,CRTO,PLAB

Top Tech Stocks

MSFT +1.55%

AAPL +1.74%

IBM +2.55%

CSCO +2.17%

GOOG +1.52%

Technology stocks were firming Tuesday, with shares of tech companies in the S&P 500 adding over 1.8% in value today while the Philadelphia semiconductor index was posting a nearly 2.2% gain.

Among technology stocks moving on news:

+ eBay ( EBAY ) was slightly higher late in Wednesday's regular trading session, with the online auction and sales website backing down from a more than 1% advance that followed it late Tuesday saying it has hired Jan Pedersen to be the new chief scientist of its Artificial Intelligence ( AI ) unit. The former Twitter ( TWTR ) executive will lead Ebay's computer vision, natural language understanding and machine learning efforts as well as delivering new customer experiences across the ebay platform. Most recently, he was vice president of data science at Twitter and previously worked almost a decade at Microsoft ( MSFT ) in various search-related leadership roles.

In other sector news:

- Criteo ( CRTO ) climbed almost 28% on Wednesday after posting Q4 financial results beating Wall Street expectations and also forecasting Q1 revenue topping Street views. Excluding one-time items, the company earned $1.21 per share on $277 million in revenue excluding traffic-acquisition costs compared with the Capital IQ consensus expecting $0.93 per share on $262 million in ex-TAC revenue. It also sees ex-TAC revenue during the current quarter in a range of $230 million to $235 million, exceeding the analyst mean by at least $25.4 million.

+ Carbonite ( CARB ) surged more than 18% higher during Wednesday trading after the Isreali software firm overcame mixed Q4 financial results by announcing its $145.8 million cash purchase of the Mozy data-protection platform unit from privately held Dell Technologies. Carbonite is expecting Mozy will significantly expand its customer base, with CEO Mohamad Ali stating he was "thrilled" by the deal and is expecting the new acquisition to reach customers looking to back "up individual laptops to maintaining uptime for hundreds of business servers." Separately, the company recorded non-GAAP net income of $0.30 per share, topping the Capital IQ consensus by $0.01 per share. Revenue rose 15% year over year to $61.7 million, lagging the $63.90 million Street view.

+ Photronics (PLAB) still was moderately higher Wednesday after reporting fiscal Q1 net income of $0.09 per share and beating Wall Street expectations by $0.03 per share. Its revenue of $123.4 million exceeded the analyst mean by around $9.3 million. It also guided Q2 financial results matching analyst projections.

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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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