Sector Update: Chipmakers Lifting Tech Stocks to Solid Advance

Friday, October 25, 2019 1:22 PM | MT Newswires

Top Tech Stocks

MSFT +0.51%

AAPL +0.68%

IBM +1.01%

CSCO +1.08%

GOOG +0.53%

Technology stocks were firming in Friday trade, supported by chipmaker Intel (INTC) late Thursday posting Q3 net income and revenue easily outpacing Wall Street forecasts. At last look, the shares of tech companies in the S&P 500 were climbing almost 1.1% while the Philadelphia Semiconductor Index was rising more than 1.7%.

Among technology stocks moving on news:

(-) First Solar (FSLR) dropped 6% after late Thursday reporting Q3 net income of $0.29 per share, down from $0.54 per share during the year-ago period and also lagging the Capital IQ consensus expecting a $1.11 per share profit. Revenue for the solar energy company fell 6.5% from year-ago levels to $546.8 million, also trailing the $995 million analyst mean.

In other sector news:

(+) Cypress Semiconductor (CY) was fractionally lower. The maker of embedded system solutions, reported Q3 revenue exceeding Wall Street expectations. Revenue fell 8.8% to $574.5 million during the three months ended Sept. 30 but still topped the Capital IQ consensus looking for $570.7 million.

(-) Vocera Communications (VCRA) fell over 22%. The networking equipment company reported non-GAAP Q3 net income of $0.23 per share, up from $0.20 per share during the year-ago period and beating the Capital IQ consensus by $0.04 per share.

Price: 52.66, Change: -3.23, Percent Change: -5.78

Share this article:

Related Companies

Upgrade to Premium and Analyze Stocks Like a Pro

50% Off All Subscriptions
InvestorsObserver Premium
InvestorsObserver Premium
InvestorsObserver Premium
Save up to 73% with an annual plan

InvestorsObserver Premium

$ 20.75 $ 10.38 /month
$249 $124.50 billed annually

Related Articles

What are the Long and Short-term Outlooks for Optical Cable Corporation (OCC) Stock?

How High Does Wall Street Think Atlassian Corporation PLC (TEAM) Stock Can Go?

Does Wall Street Like Qualys Inc (QLYS) Stock?

Asian ADRs Move Lower in Wednesday Trading

Related Companies