Technology

Technology Sector Update for 08/03/2018: TTWO,HQCL,SEDG

Top Tech Stocks

MSFT +0.27%

AAPL -0.17%

IBM +0.21%

CSCO +0.19%

GOOG +0.05%

Technology stocks were firming in early trading and looking to extend their rebound to a fourth day in a row.

Among technology stocks moving on news:

+ Take-Two Interactive Software ( TTWO ) climbed more than 13% in early trading Friday morning after the electronic gaming company reported fiscal Q1 sales easily beating Wall Street forecasts, dropping to $388 million during the three months ended June 30 from $418.2 million in the year-ago period compared with the Capital IQ consensus expecting only $259.67 million. Net income rose to $0.62 a share from $0.56 per share last year, narrowly missing the analyst mean by $0.02 per share.

In other sector news:

+ Hanwha Q CELLS Co ( HQCL ) jumped almost 26% higher in Friday's pre-market trading after the Korean photovoltaic modules company received a non-binding buy-out proposal from Hanwha Solar Holdings Co. Ltd seeking to acquire the American depository shares it doesn't already own for $9 apiece. Each ADS represents 50 ordinary shares, or 18 cents per share.

- SolarEdge Technologies ( SEDG ) declined in Friday's pre-market, sinking nearly 9%, after the "smart" energy provider reported adjusted Q2 net income of $0.82 per share, improving on a $0.55 per share profit during the same quarter last year but still missing the Capital IQ consensus by $0.02 per share. Revenue rose 67% year over year to $227.1 million, exceeding the $225.3 million analyst mean.

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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