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Technology Sector Update for 01/26/2018: JKS,INTC,WDC,MSCC

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Top Tech Stocks

MSFT +1.48%

AAPL -0.07%

IBM +1.02%

CSCO +1.37%

GOOG +0.16%

Technology stocks extended their day-long advance, with shares of tech companies in the S&P 500 Friday afternoon riding a more than 1.4% gain while the Philadelphia semiconductor index was increasing more than 3.1%.

Among technology stocks moving on news:

JinkoSolar Holding Co ( JKS ) turned positive in late Friday trading, erasing a nearly 2% decline earlier that followed the photo-voltiac panels company’s saying it has terminated a proposed at-the-market offering of its common stock without selling any of its American depository shares.

In other sector news:

+ Intel ( INTC ) sped to its best price since the internet bubble in 2000, rising more than 10% to $49.95 a share, after last night easily beating Wall Street expectations with its Q4 financial results and raising its quarterly dividend by 11% over its most recent distribution.

+ Microsemi ( MSCC ) was higher in Friday trade after the company reported fiscal Q1 non-GAAP net income of $1.01 per share and a GAAP profit of $0.40 per share. The Street was at $1.01 per share and $0.41 per share, respective. Net sales rose 7.6% year over year to $468.7 mln, topping the $460 mln analyst mean. Guides Q2 sales at least $12.9 mln above the $464.1 mln Wall Street projection.

– Western Digital ( WDC ) was narrowly lower although the company reported non-GAAP fiscal Q2 net income of $3.95 per share, up from $2.30 per share last year, and exceeding the $3.82 per share Street view. Net sales rose to $5.3 bln during the three months ended Dec. 29 from $4.9 bln last year, also matching the $5.31 bln analyst mean.

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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