Stocks rose on Monday, July 27 as investors look ahead to a busy week of tech earnings and a Federal Reserve meeting. Here are some of the top tech movers as of mid-day.
Shares of Twitter (TWTR) - Get Twitter, Inc. Report fell 3.2% to $36.24 on Monday. Last week, the social network told investors that its ad revenue declined 23% last quarter, and didn't provide guidance or much insight into ad trends in the current quarter. On Monday, Bloomberg reported that Twitter CEO Jack Dorsey and its board were warned repeatedly about vulnerabilities in its security operations, which may have contributed to a recent hijacking over multiple celebrities' and politicians' accounts as part of a bitcoin scam.
Shares of Xilinx (XLNX) - Get Xilinx, Inc. Report rose 3.5% to $106.24 ahead of its earnings report for fiscal Q1, which is scheduled for Thursday, June 30. Xilinx, which dominates the market for programmable logic chips along with Intel (INTC) - Get Intel Corporation Report, recently raised its June quarter revenue guidance to a range of $720 million to $734 million, up from prior guidance of $660 million to $720 million. It attributed the gains to strong demand in its wired and wireless group and its data center group. Shares of Xilinx are up 5% year to date.
Shares of Qualcomm (QCOM) - Get Qualcomm Inc Report rose 2.4% to $91.02 ahead of its latest earnings release on Wednesday, July 29. In a note on Monday, JP Morgan analyst Samik Chatterjee added Qualcomm as a top growth pick, citing possible upside from a stronger 5G smartphone outlook in the near term, and writing that "execution on the 5G content and volume ramp to improve investor confidence on the earnings opportunity" could drive a re-rating on shares.
Shares of eBay (EBAY) - Get eBay Inc. Report rose 2.2% to $56.33 ahead of its second quarter earnings. For the quarter ending June 30, Wall Street is expecting eBay to deliver a strong quarter for sales. On average, analysts are forecasting $1.05 EPS and total sales of $2.8 billion, with all but one having raised their estimates in recent weeks according to FactSet. The auction giant also recently agreed to sell its classifieds unit for $9.2 billion.
Shares of Juniper Networks (JNPR) - Get Juniper Networks, Inc. Report rose 2% to $24.98 on Monday ahead of its latest earnings release. On average, analysts are expecting earnings to fall year-over-year to 34 cents per share and total revenue of $1.05 billion. Its earnings are scheduled to be released on Tuesday, July 28 after the close of trading.