Top Tech Stocks
Technology stocks were taking their lumps today, with shares of tech companies in the S&P 500 retreating slightly more than 0.8% in afternoon trade.
In company news, Twilio Inc ( TWLO ) was rising Tuesday after analysts at Oppenheimer today began coverage of the cloud communications platform company with an Outperform rating.
The move follows Twilio Oct. 21 pricing a follow-on offering of 641,222 shares of its common stock at $40 a share. The company also sold around 6.4 million shares on behalf of Fidelity, Bessemer Venture Partners, Redpoint Ventures and Union Square Ventures.
TWLO shares recently were up about 4% apiece, earlier reaching a session high of $36.79 a share.
In other sector news,
(+) AMKR, (+9.2%) Q3 EPS of $0.25 beat Capital IQ Consensus by $0.04 per share. Revenue climbs 48% over last year to $1.09 bln, edging out the two-analyst consensus expecting $1.06 bln.
(-) INST, (-24.0%) Guides Q4 revenue in a range of $30.4 mln to $31.0 mln, trailing the $32.2 mln Capital IQ consensus. Non-GAAP Q3 net loss of $0.34 per share was $0.08Â narrower thanÂ analyst mean. Revenue rises 44.3% to $30.1 mln, in-line with Capital IQ consensus.
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