Top Tech Stocks
Technology stocks were falling in recent trading, with the shares of tech companies in the S&P 500 losing nearly 0.3% in value while the Philadelphia Semiconductor Index was declining 1.1%.
Among technology stocks moving on news:
(+) Sea Limited ( SE ) soared as much as 28% higher to a record high of $20.80 after late Tuesday reporting a smaller-than-expected Q4 net loss. The digital entertainment and services platform company turned in a net loss of $0.81 per share during the three months ended Dec. 31, improving on a $0.90 per share net loss during the same quarter in 2017 and also topping the Capital IQ consensus expecting no change from the year-ago period.
In other sector news:
(+) Palo Alto Networks ( PANW ) climbed 7% on Wednesday after the firewall software firm reported non-GAAP net income of $1.51 per share for its fiscal Q2 ended Jan. 31, improving on a $1.05 per share adjusted profit during the same period last year and outpacing the Capital IQ consensus by $0.29 per share. Revenue rose to $711.2 million from $545.6 million during the year-ago period, also topping the $682.32 million analyst mean.
(-) TiVo ( TIVO ) dropped 13% after the digital recording company reported disappointing Q4 results, including a GAAP net loss of $2.33 per share during the three months ended Dec. 31, reversing a $0.15 per share profit during the final quarter of FY17 and missing the Capital IQ consensus expecting a $0.12 per share net loss. Revenue fell to $168.46 million from $214.24 million during the year-ago period, also lagging the $173.68 million Street view.
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