Technology

Technology Sector Update for 09/27/2019: NCTY, PRGS, MU, MSFT, AAPL, IBM, CSCO, GOOG

Top Technology Stocks:

MSFT: +0.24%

AAPL: +0.21%

IBM: Flat

CSCO: +0.37%

GOOG: Flat

Leading technology stocks were flat to higher pre-bell Friday.

Early movers include:

(+) The9 (NCTY), which was surging more than 34% after saying it signed a definitive agreement to sell certain subsidiaries in China to Kapler, a privately held holding company in Singapore, for RMB493 million ($69.2 million).

(-) Progress (PRGS) was slipping by more than 11% as it guided for downbeat revenue for its current fiscal quarter. The company said in its fiscal Q3 earnings statement that it anticipates fiscal Q4 non-GAAP EPS of $0.73 to $0.75 and non-GAAP revenue in the range of $116 million to $119 million.

(-) Micron Technology (MU) was down more than 4% amid stronger-than-expected adjusted earnings and revenue for its most recent fiscal quarter. Non-GAAP EPS decreased to $0.56 for the three months ended Aug. 29, from $3.53 a year earlier. That came above the $0.48 average estimate of analysts surveyed by Capital IQ.

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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