Plexus Corp PLXS:NASDAQ

Last Price$76.53NASDAQ Previous Close - Last Trade as of 3:59PM ET 8/04/20

Today's Change+0.16(0.21%)
Bid (Size)$70.00 (1)
Ask (Size)$79.80 (5)
Day Low / High$75.90 - 76.79
Volume148.7 K

Sector Update: Small Slide for Tech Stocks

3:58PM ET 4/23/2020 MT Newswires
Technology stocks continued drifted lower this afternoon, with the SPDR Technology Select Sector ETF declining about 0.2% while the Philadelphia Semiconductor Index was sinking over 0.4%.

In company news, Alliance Data Systems (ADS) added almost 11% after Thursday reporting an increase in Q1 revenue to $1.38 billion from $1.33 billion during the same quarter last year and beating the Capital IQ consensus expecting $1.31 billion in revenue for the three months ended March 31.

Plexus (PLXS) rose almost 4.5% after the contract electronics manufacturer late Wednesday reported non-GAAP net income of $0.61 per share on $767.4 million in revenue for its fiscal Q2 ended April 4. Analysts, on average, had been projecting adjusted earnings of $0.56 per share and $741.22 million in Q2 revenue.

CounterPath (CPAH) was more than 26% higher, easing from a 104% gain earlier Thursday that followed the Canadian software firm saying it has seen increased demand from customers forced to work remotely during the ongoing COVID-19 pandemic and projecting 26% to 40% year-over-year revenue growth for its fiscal Q4 ending April 30. Analyst estimates were not available.

Seagate Technology (STX) dropped 5.5% after RBC Capital Markets cut its price target for the computer components company by 10% to $54, citing disappointing Q1 results overnight for its legacy business, while Mizuho trimmed its price target for Seagate by $4 to $56 a share. Wedbush Thursday also lowered its price target for the company's shares by $2 to $49 each.

Price: 40.51, Change: +3.83, Percent Change: +10.43