Top Tech Stocks
Technology stocks were firming again, with the shares of tech stocks in the S&P 500 adding nearly 1% in value while the Philadelphia Semiconductor Index also was rising almost 1%.
Among technology stocks moving on news:
(+) Amdocs ( DOX ) climbed nearly 13% after reporting adjusted Q2 net income of $1.06 per share on $1.02 billion in revenue during the three months ended March 31 compared with the Capital IQ consensus expecting a $1.03 per share non-GAAP profit for the communications and media software firm on $1.02 billion in revenue. It also raised its FY19 earnings forecast by 1.5 percentage points on each side, now expecting 4.5% to 8.5% growth over prior-year levels.
In other sector news:
(+) Advanced Energy Industries ( AEIS ) rose 10% after Susquehana raised its stock rating on the electronic components company to positive from neutral previously and also increased its price target on the company's shares by $37 to $82 apiece.
(-) Renren ( RENN ) was almost 1% lower, giving back a 5% gain at Wednesday's opening bell. The social networking company reported a 35.8% increase in revenue over the year-ago period, rising to $122.2 million, while its net loss for its fiscal Q4 widened to $0.08 per share from $0.03 per share last year. Analyst estimates were not available.
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.