Top Tech Stocks
Technology stocks were declining in recent trading, with shares of tech companies in the S&P 500 on a nearly 0.5% decline.
In company news, Science Applications International ( SAIC ) slid to a 14-month low on Friday, with shares of the technology consulting company falling almost 19% to touch their lowest price since July 2016 at $60.80 each after the company last night reported Q2 net income lagging Wall Street expectations.
The company earned $0.80 per share during the three months ended Aug. 4, down $0.01 per share compared with the same quarter last year and trailing the Capital IQ consensus by $0.12 per share. Revenue declined 2% from year-ago levels to $1.08 billion, roughly in-line with the analyst mean.
In other sector news,
(+) MARA, (+6.8%) Mark Groussman through his Melechdavid Inc. asset management company and a family foundation reports owning a passive 9.99% stake, acquiring more than 2.45 mln shares, according a new regulatory filing.
(-) TNTR, (-29.2%) Fiscal Q1 revenue rises 27% over year-ago levels to $34.9 mln but still lags the $35.7 mln Capital IQ consensus. Narrows non-GAAP net loss to $0.91 per share, beating the analyst mean by $0.07 per share.
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