Technology Sector Leads Gains as Google, Facebook Push Higher

Strategic Insights -

The technology sector is driving gains today, led by tech giants Google and Facebook, as well as other notable movers. The Dow Jones Industrial Average is up 1.1% to 16,237, while the S&P 500 is up 0.8%. The technology sector is currently up 0.5%, with Google, Facebook, and other stocks making significant gains.

Key Takeaways:

  • Google Inc. (GOOG) is up 1.2% to $605.15, with 1.3 million shares exchanged hands, compared to its average daily volume of 2.4 million shares.
  • Facebook, Inc. (FB) is up 1.4% to $88.48, with 13.5 million shares exchanged hands, compared to its average daily volume of 32.2 million shares.
  • Google has a market cap of $212.6 billion and is part of the internet industry, with a P/E ratio of 28.6, above the S&P 500 P/E ratio of 24.9.
  • Facebook has a market cap of $202.1 billion and is part of the internet industry, with a P/E ratio of 91.3, above the S&P 500 P/E ratio of 24.9.
  • TheStreet Ratings rates Google as a hold, citing revenue growth, solid financial position, and reasonable valuation levels. However, it also notes disappointing return on equity and feeble growth in earnings per share.
  • TheStreet Ratings rates Facebook as a buy, citing robust revenue growth, solid financial position, good cash flow from operations, expanding profit margins, and solid stock price performance.
  • The technology sector is driven by companies like Google, Facebook, and NTT DoCoMo, with notable movers like Taiwan Semiconductor Manufacturing and Intel also seeing significant gains.

Statistics:

  • Google is up 13.6% year-to-date.
  • Facebook is up 11.8% year-to-date.
  • Google has a market cap of $212.6 billion.
  • Facebook has a market cap of $202.1 billion.
  • The technology sector is up 0.5%, with Google, Facebook, and other stocks making significant gains.

Sources:

  • [www.thestreet.com/quote/%5eDJI.html (^DJI)]
  • [www.thestreet.com/quote/%5eDJIA.html (^DJIA)]
  • [www.thestreet.com/quote/%5eSPX.html (^SPX)]
  • [www.thestreet.com/quote/goog.html?cm_ven_int=tstwire (GOOG)]
  • [www.thestreet.com/quote/fb.html?cm_ven_int=tstwire (FB)]
  • [www.thestreet.com/quote/tsm.html?cm_ven_int=tstwire (TSM)]
  • [www.thestreet.com/quote/intc.html?cm_ven_int=tstwire (INTC)]
  • [www.thestreet.com/quote/aapl.html?cm_ven_int=tstwire (AAPL)]
  • [www.thestreet.com/quote/ntt.html?cm_ven_int=tstwire (NTT)]