Technology Sector Update for 01/31/2020: INVE, BR, MSFT, AAPL, IBM, CSCO, GOOG

Technology Sector Update for 10/14/2019: YNDX, GOOG, GOOGL, DOX, MSFT, AAPL, IBM, CSCO

Top Technology Stocks:

MSFT: -0.37%

AAPL: -0.58%

IBM: +3.97%

CSCO: -0.85%

GOOG: +0.77%

Technology majors were mixed pre-market Friday.

Early movers include:

(-) Identiv (INVE), which was down more than 8% as the company started exploring strategic alternatives to enhance stockholder value after guiding for a Q4 loss and slashing its fiscal 2020 outlook. Identiv estimated a net loss of $0.14 to $0.13 per share on revenue of $18.7 million to $18.8 million in Q4, compared with analysts’ estimates of net income of $0.03 per share on revenue of $24.30 million for the quarter.

(-) Broadridge Financial Solutions (BR) was down more than 7% amid Q2 earnings and revenue that missed analyst estimates. Adjusted earnings fell to $0.53 per share from $0.56 a year earlier and missed the $0.71 consensus estimate from Capital IQ.

(+) International Business Machines (IBM) was up almost 4% in value after saying its board elected Arvind Krishna as chief executive officer and a member of the board of directors, effective April 6. Krishna is senior vice president for cloud and cognitive software.

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

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