Technology
CRM

Technology Sector Update for 03/05/2019: GSKY,CRM,WB

Top Tech Stocks

MSFT -0.85%

AAPL -0.47%

IBM -0.58%

CSCO +0.14%

GOOG +0.68%

Technology stocks were declining in recent trading, with shares of tech companies in the S&P 500 losing 0.3% in value while the Philadelphia Semiconductor Index was up 0.1%.

Among technology stocks moving on news:

(+) GreenSky ( GSKY ) rose nearly 10% after reporting a 22% increase in Q4 revenue to $109.7 million from $89.8 million in the same period a year earlier and topping the Capital IQ consensus by $6.7 million. The point-of-sale financing and payments software firm also sees its FY19 revenue growing 30% to 38% to a range of $538 million to $572 million, exceeding the analyst mean on March 4 of $522.8 million, according to CapIQ.

In other sector news:

(-) Salesforce.com Inc ( CRM ) slipped about 1% after the customer-retention software firm reported non-GAAP Q4 net income of $0.70 per share during the three months ended Jan. 31, up from $0.47 per share during the same quarter a year earlier and easily topping the Capital IQ consensus expecting $0.55 per share. Revenue rose 26% year-over-year to $3.60 billlion, also exceeding the $3.56 billion analyst mean.

(-) Weibo ( WB ) was 2.5% lower this afternoon, recovering from an 11% decline soon after Tuesday's opening bell. The Chinese social network company reported non-GAAP Q4 net income of $0.80 per share during the three months ended Dec. 31, rising 25% over its $0.64 per share adjusted profit during the year-ago period and exceeding the Capital IQ consensus by $0.05 per share.

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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