Featured Image

Top Tech Stocks

MSFT +1.43%

AAPL +0.68%

IBM +0.91%

CSCO +1.48%

GOOG +1.01%

Technology stocks were sharply higher in recent trading, with the shares of tech companies in the S&P 500 adding nearly 1.2% in value this afternoon while the Philadelphia Semiconductor Index was rising about 1.1%.

Among technology stocks moving on news:

(+) Acacia Communications ( ACIA ) was trading 16% higher on Friday after the networking equipment manufacturer reported adjusted Q4 net income and revenue topping year-ago comparisons as well as Wall Street expectations. It also is projecting above-consensus Q1 revenue, looking for revenue in a range of $96 million to $104 million compared with the Street view expecting $92.56 million in revenue for the three months ending March 31.

In other sector news:

(+) Universal Display ( OLED ) raced 22% higher after late Thursday reporting better-than-expected Q4 net income, earning $0.40 per share during the three months ended Dec. 31 compared with a $0.69 per share profit during the year-ago period but still exceeding the Capital IQ consensus expecting $0.30 per share.

(-) Dropbox ( DBX ) dropped 8% after RBC Capital lowered its price target on the collaboration platform firm by $5 to $32 a share despite the company late Thursday reporting better-than-expected Q4 financial results, earning $0.10 per share during the October-to-December period following a 23% year-over-year increase in revenue to $375.9 million. The Street was at $0.08 per share on $369.97 million in revenue.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of NASDAQ, Inc.


Related Articles