Sector Update: Tech Giants Advance Pre-Market Wednesday

Wednesday, December 4, 2019 9:05 AM | MT Newswires

Top Technology Stocks:

MSFT: +0.52%

AAPL: +0.77%

IBM: +0.67%

CSCO: +0.27%

GOOG: +0.63%

Technology giants were advancing pre-market Wednesday.

Stocks moving on news include:

(-) Zscaler (ZS), which was down more than 5% after the cloud security issued an earnings forecast for the current quarter trailing Wall Street expectations. For the three months ending Jan. 31, Zscaler is projecting adjusted net income of about $0.03 per share on $97 million to $100 million in revenue.

(-) Workday (WDAY) was slipping more than 4% even after saying it expects Q4 subscription revenue to grow 23% to a range of $828 million to $830 million, with backlog growth in the low-20s. The company also booked a fiscal Q3 non-GAAP net income of $0.53 per share, compared with $0.31 per share in the year-ago period. Analysts polled by Capital IQ were expecting EPS of $0.37.

In other sector news:

(+) Alphabet (GOOG, GOOGL) was marginally higher after saying Sundar Pichai will be CEO of both Google and Alphabet as the firms no longer need two CEOs and a president.

Price: 52.80, Change: +1.73, Percent Change: +3.28

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