Technology Sector Update for 06/04/2019: BOX, COUP, UBER, MSFT, AAPL, IBM, CSCO, GOOG

Top Technology Stocks:

MSFT: +1.24%

AAPL: +1.02%

IBM: +0.77%

CSCO: +1.10%

GOOG: +0.64%

Leading technology stocks were gaining pre-market Tuesday.

Stocks moving on news include:

(-) Box (BOX), which was slumping by more than 14% as its adjusted net loss narrowed to $0.03 per share in Q1 from $0.07 loss per share a year earlier, a smaller loss than analysts' estimates of $0.05 loss per share in a Capital IQ poll.

(+) Coupa Software (COUP) was gaining more than 6% in value after the cloud-based business spend management platform provided an upbeat fiscal Q2 revenue outlook while reporting fiscal Q1 results that beat Wall Street expectations.

(+) Uber (UBER) is currently under a federal income tax examination by the Internal Revenue Service (IRS) for tax years 2013 and 2014 that could result in a reduction in unrecognized tax benefits by at least $141 million, according to a filing with the Securities and Exchange Commission. Uber was recently trading more than 3% higher.

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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