Technology

Technology Sector Update for 08/30/2019: AMBA, DELL, JKS, MSFT, AAPL, IBM, CSCO, GOOG

Top Technology Stocks:

MSFT: +0.62%

AAPL: +0.67%

IBM: +0.52%

CSCO: +0.53%

GOOG: +0.60%

Technology heavyweights were climbing pre-market Friday.

Stocks moving on news include:

(+) Ambarella (AMBA), which was advancing by more than 20% after reporting non-GAAP earnings per share of $0.21 in fiscal Q2, down from $0.25 EPS in the year-ago period but beating the $0.02 earnings Capital IQ estimate.

(+) Dell Technologies (DELL) was nearly 9% higher as it reported fiscal Q2 results that topped Wall Street expectations. Non-GAAP EPS was $2.15 for the period ended Aug. 2, above the $1.50 average estimate of analysts surveyed by Capital IQ.

(+) JinkoSolar (JKS) was gaining nearly 5% in value after it posted forecast-beating Q2 results after shipment of solar modules increased in the quarter. Net income attributable to shareholders was RMB1.26 ($0.18) per diluted ADS, compared with RMB2.51 in the year-ago quarter. On an adjusted basis, net income was RMB4.87 per diluted ADS, compared with RMB2.71 during the same period in 2018 and consensus estimate of $0.33 from a Capital IQ poll of analysts.

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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