30 Jan Technology Sector Update for 01/29/2018: SOHU,MOMO,DST
Top Tech Stocks
Technology stocks were declining Monday, with shares of tech companies in the S&P 500 sliding nearly 0.5% lower while the Philadelphia semiconductor index also was posting a less than 0.5% decrease.
Among technology stocks moving on news:
– Sohu.com ( SOHU ) at one point Monday plunged almost 17% to a session low of $38.59 a share after the Chinese online-gaming company reported a wider-than-expected non-GAAP Q4 net loss of $2.01 per share, missing the Capital IQ consensus looking for a $1.72 per share loss. Revenue grew 23.8% over year-ago levels to $509.6 million, also lagging the $522.7 million analyst mean. Looking forward, the company is projecting a non-GAAP Q1 net loss between $1.65 to $1.90 per share and revenue in a range of $410 million to $435 million. Analysts, on average, are modelling a $1.81 per share adjusted net loss on $475.5 million in revenue.
In other sector news:
+ Momo ( MOMO ) climbed to a session high of $32.18 a share, rising over 6% on Monday, after analysts at JP Morgan today raised their investment call for the Chinese social networking firm to Overweight from Neutral.
– DST Systems ( DST ) remains narrowly lower Monday afternoon, sinking less than 1% to stay within range of its session low of $83.78 a share that followed the data-processing company saying its non-GAAP Q4 per-share earnings rose to $1.11 per share from $0.83 per share during the year-ago period and exceeding Wall Street expectations by $0.27 per share. Revenue jumped almost 49% higher to $593.7 million from $398.8 million during the same quarter last year and beating the Capital IQ consensus by around $538.4 million.
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