Technology Sector Update for 02/27/2020: PLAN,BOX,SPCE


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

Top Tech Stocks

MSFT -2.14%

AAPL -2.79%

IBM -1.30%

CSCO -0.45%

GOOG -1.78%

Technology stocks were falling in Thursday trading, with the SPDR Technology Select Sector ETF declining 1.5% while the Philadelphia Semiconductor Index was slipping 1.3%.

Among technology stocks moving on news:

(-) Anaplan (PLAN) tumbled more than 19% on Thursday despite the data analytics company’s reporting better-than-expected Q4 financial results and guiding revenue for the current quarter narrowly surpassing analyst projections.

In other sector news:

(+) Box (BOX) climbed 7.2% after the cloud content manager reported reported Q4 financial results exceeding analyst estimates. Excluding one-time items, it earned $0.07 per share on $183.6 million in revenue, beating the Capital IQ consensus for $0.04 and $181.5 million in revenue.

(-) Virgin Galactic Holdings (SPCE) fell almost 16% after the commercial space travel company Thursday received a pair of analyst downgrades at Morgan Stanley and Credit Suisse, two days after it reported sub-par Q4 revenue. Morgan Stanley reduced its rating to equal-weight from overweight while Credit Suisse lowered its investment call to neutral from outperform, citing valuation.

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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