Technology Sector Update for 05/23/2019: SINA, PRO, WB

Top Tech Stocks

MSFT -2.20%

AAPL -2.03%

IBM -4.06%

CSCO -2.95%

GOOG -1.78%

Technology stocks were falling in recent trading, with the shares of tech companies in the S&P 500 dropping nearly 2.4% while the Philadelphia Semiconductor Index was sinking over 2.7%.

Among technology stocks moving on news:

(-) Sina (SINA) declined 11% after the Chinese online media company Thursday reported $475.1 million in Q1 revenue, climbing from $440.8 million during the same period last year but falling short of the $477.6 million analyst mean.

In other sector news:

(+) PROS Holdings (PRO) was 1% higher on Thursday after a Stifel upgrade to buy from hold and a price target increase of $4 to $60 a share.

(-) Weibo (WB) fell 14% after reporting an increase in Q1 revenue to $399.2 million from $349.9 million during the same quarter last year but still narrowly lagging the Capital IQ consensus expecting $399.7 million.

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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