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FireEye Rockets Higher Midday; Electronic Arts Sinks Again

Published 10/31/2018, 11:20 AM
Updated 10/31/2018, 11:30 AM
© Reuters.  FireEye jumped midday, nearing a 52-week high.

Investing.com - There was a host of treats and few tricks for tech stocks midday as big-name stocks led a Halloween rally.

The S&P 500 Information Technology Sector index gained about 2.8% at 11:25 AM ET (15:25 GMT).

But while the focus was on the likes of Alphabet (NASDAQ:GOOGL) and Apple (NASDAQ:AAPL), two smaller names gave investors a snapshot of contrasting fortunes in the sector.

FireEye (NASDAQ:FEYE) jumped about 11% following its bullish earnings report after the bell yesterday.

The cybersecurity company beat expectations on the top and bottom lines. It also guided profit and revenue in line with analyst expectations.

FireEye has had a volatile year of trading, but is ramping up close to around the $19 level, heights not seen since April.

On the flip side, Electronic Arts (NASDAQ:EA) fell about 3%, continuing a miserable trend for the stock that began in July.

Since that time, when the company warned about a delay in the latest incarnation of its popular Battlefield game series, the stock has tumbled around 40% (falling from near $150 to about $90 today).

The videogame maker beat expectations for the most recent quarter after the bell yesterday but warned on revenue for the current quarter and on profit for fiscal 2019.

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