November 9, 2018 Technology Sector Update

Technology Sector

From Nasdaq: Top Technology Stocks on November 9, 2018

MSFT: -0.67%

AAPL: -1.31%

IBM: -0.31%

CSCO: -0.81%

GOOG: -0.87%

Technology stocks were trading down pre-market Friday.

Early movers include:

(-) Yelp ( YELP ), which was more than 31% lower after it reported a sharp increase in Q3 earnings, but said that business slowed in the quarter and forecast revenue for the year below Wall Street expectations.

(-) Activision Blizzard ( ATVI ) was declining by more than 13%. Thursday it reported net income declined versus year ago and expectations in Q3, as revenue came in at $1.51 billion, compared with $1.61 billion in the year-ago quarter. Analysts polled by Capital IQ were expecting revenue of $1.66 billion.

(+) Finisar ( FNSR ) was gaining more than 22% after the Californian communications company said that it had agreed to be acquired by II-VI ( IIVI ), a provider of optoelectrical components, for approximately $3.2 billion.

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

The Technology Select Sector SPDR ETF (XLK) was trading at $69.64 per share on Friday afternoon, down $1.43 (-2.01%). Year-to-date, XLK has gained 9.24%, versus a 4.32% rise in the benchmark S&P 500 index during the same period.

XLK currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 68 ETFs in the Technology Equities ETFs category.

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