Top Tech Stocks
Technology stocks were dropping in recent trading, with the shares of tech stocks in the S&P 500 losing nearly 1.9% in value while the Philadelphia Semiconductor Index was falling 2.6%.
Among technology stocks moving on news:
(-) Comtech Telecommunications ( CMTL ) dropped 5% this afternoon. The networking equipment company Friday announced the launch of a new line of transportable, full motion antennas for tracking low earth orbit and medium earth orbit satellites and high altitude pseudo-satellites.
In other sector news:
(-) One Stop Systems ( OSS ) turned lower this afternoon, giving back an earlier 15% gain. The "AI on the Fly" technology company reported Q4 results topping Wall Street estimates, earning $0.09 per share during the three months ended Dec. 31, excluding one-time items, up from $0.00 per share during the year-ago period to beat the Capital IQ consensus by $0.03 per share. Q4 revenue rose 104% to $14.4 million, also exceeding the analyst mean by $400,000.
(-) Zuora ( ZUO ) slid 13% on Friday after forecasting FY20 revenue trailing analyst expectations. The cloud-based subscription management platform company is projecting between $214 million to $216.5 million in revenue for the 12 months ending next January compared with the Wall Street consensus looking for a $294.8 million in revenue at Zuora this year.
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