CORAL GABLES, FL / ACCESSWIRE / July 30, 2018 / Technology stocks continue to remain in the spotlight this week. A mixed earnings season has put a very bright spotlight on the sector that typically has been known to drive some of the major indexes over recent quarters. Heading into the first week of August and to continue the earnings season, eyes will remain on tech and more specifically, where opportunities in tech will be.
Last week was the busiest stretch of the second-quarter earnings season so far, with roughly a third of companies in the S&P 500 reporting results. Some companies posted results that fell short of analysts' forecasts but most delivered better-than-expected results and favorable outlooks.
Surge Holdings, Inc. (SURG) could be one of the tech stocks to watch heading into August. In late May the broad-based technology company announced an agreement with LookHu, Inc. to offer first-run movies, television shows and unlimited premium music streaming to SurgePhone Wireless customers.
Byron Booker, President and CEO of LookHu stated, ''LookHu is tailor-made for cord-cutters who want more for less, and Surge resonates with that same audience - bringing these two disruptors together brings power back to the people.''
The recent trend in cord-cutting has seen a number of companies, including Wal-Mart (WMT) work toward an entry into the streaming industry. Since June 29, shares of Surge have increased steadily by as much as 43% after a $0.3289 close on Friday.
For More Information On Surge Holdings (SURG), Click Here
Advanced Micro Devices (NASDAQ: AMD) has also caught a surge of positive momentum after reporting earnings earlier this month. The company reported that revenue increased 53% year-over-year and gross margin expanded to 37%. Revenue for the second quarter of 2018 of $1.76 billion, operating income of $153 million, net income of $116 million and diluted earnings per share of $0.11. On a non-GAAP basis, operating income was $186 million, net income was $156 million and diluted earnings per share was $0.14.
CEO Lisa Su called it "an outstanding second quarter," citing "strong revenue growth, margin expansion and our highest quarterly net income in seven years."
Shares are up by more than 20% from the close of trading on July 25 to Friday's high of $19.88.
For More Information On AMD's Next Steps, Click Here
Finally, Facebook (NASDAQ: FB) has been the talk of tech since reporting earnings last week. A weak outlook contributed to a rout of the stock. After hitting all-time highs of $218.62 on Wednesday, lackluster guidance saw the stock plummet to lows of $173 on Friday.
Despite this being the case for the leading social media giant, some analysts are expecting a rebound. In fact, in a report from Barron's, the contributor states, ''Facebook looks like a bargain after its recent tumble… For one thing, it's a rarity: a mega-cap company with a reasonable valuation whose revenues could grow 25% next year. While that increase would be below the estimated 35% gain this year, it would be among the highest organic growth rates for companies with market values of $100 billion and greater.''
For More Information On Facebook, Click Here.
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