Sanmina Corp SANM:NASDAQ

Last Price$26.84NASDAQ Previous Close - Last Trade as of 3:59PM ET 10/19/20
NASDAQ 15-minute delayed Bid/Ask Quotes
Today's Change0(0.00%)
Bid (Size)$0.01 (1)
Ask (Size)$30.00 (20)
Day Low / HighN/A - N/A
Volume323.8 K

Sector Update: Chipmakers Helping Tech Stocks, Nasdaq Composite Overcome Thursday Downdrafts

3:43PM ET 7/30/2020 MT Newswires
Technology stocks added to their afternoon advance, with the SPDR Technology Select Sector ETF rising 0.5%, supported by big gains by chipmakers as shown by the Philadelphia Semiconductor Index climbing 1.8% this afternoon.

In company news, Tenable Holdings (TENB) dropped over 9% after the cyber-security company disclosed plans for a secondary offering of 8 million of its common shares now owned by entities affiliated with Insight Partners. The selling shareholders also are expecting to provide underwriters with a 30-day option to buy up to 1.2 million additional shares to cover possible overallotments.

Mimecast (MIME) was edging 1.3% higher Thursday, reversing a nearly 3% decline that followed the data-security firm announcing its purchase of privately held eTorch, a messaging security company doing business as MessageControl. Financial details of the deal were not disclosed and Mimecast said it does not expect the acquisition will have a material impact on its FY21 revenue or adjusted earnings before interest, taxes, depreciation and amoritization.

Among gainers, Sanmina (SANM) rose more than 15% after late Wednesday reporting non-GAAP net income of $0.86 during its fiscal Q3 ended June 27, improving on an $0.82 per share adjusted profit during the same quarter last year and beating the Capital IQ consensus expecting the electronic components manufacturer to earn $0.34 per share, excluding one-time items. Revenue fell 18.7% year-over-year to $1.65 billion but also topped the $1.57 billion analyst mean. It also projected Q4 results exceeding Street views.

Qualcomm (QCOM) also added almost 15% in value after it reported non-GAAP net income of $0.86 per share during its fiscal Q3 ended June 28, up from $0.80 per share during the year-ago period and exceeding the Street view expecting a $0.71 per share adjusted profit.