Top Tech Stocks to Watch: MSFT, INTC, SHOP and More
Shares of Microsoft saw a 2% increase after the company announced a 10.7% increase in its quarterly dividend to 83 cents per share. Additionally, Microsoft approved a new $60 billion share repurchase program.
Jefferies downgraded SolarEdge Technologies to underperform, citing rising domestic competition and high inventory levels overseas. As a result, shares of the solar company fell more than 6%.
Intel’s stock surged 7% after the chipmaker revealed plans to create a separate entity for its foundry business, allowing it to have its own board and raise outside funding.
Dell Technologies gained 2% following Mizuho Securities’ initiation of coverage with an outperform rating. The firm praised Dell’s market leadership, robust supply chain, and growth in artificial intelligence servers.
Shopify’s shares rose 2.6% after Redburn Atlantic upgraded the e-commerce stock to buy, predicting continued market share growth in the U.S. social e-commerce market.
Flutter Entertainment saw a slight increase in shares after announcing the acquisition of Playtech Plc’s Italian gambling business Snaitech SpA for 2.3 billion euros in cash.
AppLovin’s stock rose over 2% after UBS upgraded shares to buy, noting the company’s strong execution in the gaming sector and potential upside from the e-commerce market.
Gannett received an upgrade to neutral from Citi, leading to a 4% increase in shares. Citi highlighted Gannett’s progress in slowing revenue declines and the potential for revenue growth in the future.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.