Tech Stock Movers of the Week

Our list of tech stock* movers of the week includes not one but two of the stocks we told you to keep an eye on last week. First on the winners side is Cloudera Inc. (NYSE: CLDR).

On Thursday, the data management company reported earnings per share (EPS) for the last quarter of -$0.17. That beat expectations of -$0.25, giving the stock a 9.2% gain for the week. Cloudera spent three consecutive weeks on our losers list back in June. That was in spite of fairly good news at the time, including an Ovum IoT Futures Award for Cloudera's work on a product that predicts sepsis. CLDR went public in April at a share price of $15. It closed last week at $20.70.

The top winner of the week was Okta Inc. (Nasdaq: OKTA), which gained 14%. Okta mirrored Cloudera pretty closely, reporting quarterly EPS of -$0.16 on Thursday, compared to expectations of -$0.26. Okta also held its IPO in April, at a share price of $17. After an up-and-down first few months, the stock has risen 37% since late July. The San Francisco-based company provides identity management services. Shares closed the week at $29.85.

BREAKING: New Legislation Could Turn Tiny Pot Stocks into Millions. Click Here…

Now for last week's tech disappointments…

Science Applications International Corp. (NYSE: SAIC) fell 18% thanks to a disappointing earnings report. The Virginia-based IT company posted earnings per share of $0.80 last quarter, missing estimates by 11%. The stock had been holding steady since mid-June before plunging the day after the earnings call. Seaport Global Securities lowered its price target for SAIC slightly to $80, but maintains a "Buy" rating. Shares closed the week at $62.39.

The second stock we told you to watch last week was Hewlett Packard Enterprises Inc. (NYSE: HPE). It's rare for such a large company to show up on our movers list, and it's even more surprising since HP beat earnings expectations. EPS for the last quarter was $0.30 compared to an expected $0.26. The stock actually fell sharply the week before, on Sept. 1 – but not quite enough to make our movers list for that week. Last week's drop was a slow, steady decline, with every day closing lower than the last. The drop may be related to HP's acquisition of Cloud Technology Partners Inc., which was announced last Tuesday. Shares of HPE closed the week at $13.11.

Tech Stocks to Watch This Week

Here are a couple tech stocks we're keeping an eye on for the coming week…

• Apple Inc. (NYSE: AAPL) holds its first-ever event at Steve Jobs Theater on Tuesday, Sept. 12. Customers and investors are anticipating the unveiling of the iPhone 8, plus the higher-end iPhone X. The event marks the 10-year anniversary of the original iPhone.
• Oracle Corp. (NYSE: ORCL) releases its latest earnings report on Thursday, Sept. 14. The stock has risen steadily in 2017, gaining 36.8% on the year so far.

We'll keep you updated if there's anything you need to know to make money on these moves.

*Stocks have a primary listing on a U.S. exchange, a market cap greater than $1 billion, and are in either the Technology Services or Electronic Technology sector. Data and analytics provided by FactSet.

Up Next: One gallon of this new "crystal fuel" could get you from New York to L.A. and back… seven times! Being hailed by many experts as energy's "Holy Grail," it's 1,693 times more powerful than the gasoline that runs your car. The mainstream investment media isn't even talking about it yet. Read more…

Follow Money Morning on Facebook and Twitter.

Stephen Mack

About the Author

Browse Stephen's articles | View Stephen's research services

Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.

… Read full bio