Technology Sector Update for 01/24/2020: TEAM, INTC, ERIC, MSFT, AAPL, IBM, CSCO, GOOG

Image result for Technology Sector Update for 01/24/2020: TEAM, INTC, ERIC, MSFT, AAPL, IBM, CSCO, GOOGTop Technology Stocks:

MSFT: +0.47%

AAPL: +0.29%

IBM: +0.30%

CSCO: +0.41%

GOOG: +0.49%

Technology giants were gaining in Friday’s pre-bell trading.

Stocks moving on news include:

(+) Atlassian (TEAM), which was more than 8% higher as its adjusted EPS rose to $0.37 in fiscal Q2 from $0.25 a year earlier, outshining analysts’ estimates of $0.27 in a Capital IQ poll. Revenue rose to $408.7 million from $299.0 million a year ago, also exceeding the $389.43 million estimate.

(+) Intel (INTC) was climbing more than 4% after it booked a fiscal Q4 non-GAAP EPS of $1.52, up from $1.28 reported a year earlier, and higher than the $1.25 average estimate of analysts polled by Capital IQ. Moving forward, the company said it anticipates fiscal Q1 non-GAAP EPS of $1.30, and non-GAAP revenue of $19 billion. Wall Street was looking for $1.03 and $17.2 billion.

(-) Ericsson (ERIC) was slipping more than 7% after forecasting higher costs, saying “somewhat higher operating expenses” in 2020 will not jeopardize its financial targets. The company reported a Q4 adjusted EPS of SEK1.46 ($0.15), swinging from a loss of SEK0.77 per share a year ago and meeting the consensus forecast from analysts polled by Capital IQ.

[“source=nasdaq”]