Technology Sector Update for 08/14/2019: WK, DZSI, LIQT

Top Tech Stocks

MSFT -2.96%

AAPL -2.66%

IBM -3.17%

CSCO -3.91%

GOOG -2.83%

Technology stocks were sinking in afternoon trading, with the shares of tech stocks in the S&P 500 dropping 2.7% while the Philadelphia Semiconductor Index was falling 2.9%.

Among technology stocks moving on news:

(-) Workiva (WK) dropped 8% on Wednesday after pricing a $300 million private placement of its 1.125% convertible senior notes due 2026 and also pricing a $72.4 million secondary offering of nearly 1.3 million shares now owned by CEO Martin Vanderploeg and five other Workiva executives at $56.25 each, representing a 1.4% discount to Tuesday's closing price.

In other sector news:

(+) DASAN Zhone Solutions (DZSI) was nearly 4% higher after the networking equipment company late Tuesday reported non-GAAP net income of $0.26 per share and beating the Capital IQ consensus by $0.20 per share.

(-) LiqTech International (LIQT) retreated Wednesday, sinking 6.5%, after the gas and liquid purification technology company reported mixed Q2 financial results, including net income of $0.01 per share during the three months ended June 30 up from $0.00 per share during the same quarter last year but trailing the Capital IQ consensus expecting a normalized Q2 profit of $0.03 per share and GAAP earnings of $0.02 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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