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Technology Sector Update for 02/19/2015: KEYW,GTATQ,IPAS

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Technology stocks were moderately higher today with shares of technology companies in the S&P 500 climbing about 0.3%.

In company news, shares of KEYW Holding Corp ( KEYW ) fell to a nearly three-year low Thursday after the cyber-security company last night reported a wider-than-expected Q4 net loss along with below-consensus revenue, prompting an analyst downgrade and a price-target cut of the stock today.

Net loss during the three months ended Dec. 31 widened to $5.04 million, or $0.13 per share, from a $510,000 loss last year and trailing analyst expectations by $0.07 per share.

Total revenue rose 6.8% year over year to $73.5 million, trailing the Capital IQ consensus by $3.66 million.

Following the sub-par Q4 results, analysts at Chardan Capital dropped its investment rating for KEYW to Neutral from Buy. Also today, the Maxim Group lowered its price target for the stock by $2 to $14 a share while maintaining its Buy recommendation for KEYW.

KEYW shares were down over 10% at $8.87 apiece, rebounding from a decline to its lowest share price since April 2012 at $8.08 a share. Prior to today's fall, the stock already had slipped more than 44% over the past 12 months.

In other sector news,

(+) GTATQ, (+15.2%) Receives new order from existing customer in Asia for equipment used to produce Trichlorosilane as part of the hydrochlorination process.

(-) IPAS, (-28.8%) Concludes strategic review, deciding to remain an independent company. Also names Gary Griffiths to be CEO.

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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