Why Are These Five Tech Stocks on the Move Today?

SunPower Corporation (NASDAQ:SPWR), which is one of the largest maker of solar panels in the US, posted revenue of $380.2 million, down by 43% on the year, and a loss of $0.41 per share compared to a profit of $0.20 a year earlier. The results sent the stock 6% in the green after the bell, as the non-GAAP profit of $0.13 was above the estimates of a loss of $0.01, while non-GAAP revenue of $441.4 was better than $428.88 million projected by analysts. For the fourth quarter and full-year, SunPower Corporation (NASDAQ:SPWR) currently expects non-GAAP revenue in the range of $1.25 billion to $1.30 billion and between $2.50 billion and $2.55 billion, respectively. Its EBITDA guidance was also increased to the range of $475 million to $500 million from $425 million – $475 million presented earlier. However, among the funds from our database, SunPower Corporation (NASDAQ:SPWR) lost a lot of popularity as the number of funds from our database with long positions slumped to 17 from 35 during the second quarter and the total value of their stakes was equal to 3% of the company at the end of June.

Yelp Inc (NYSE:YELP)‘s shares are also trading higher on the back of the third-quarter results, which included revenue of $143.56 million, up from $102.46 million a year earlier, and a net loss of $0.11 per share, compared to a profit of $0.05 in the third quarter of 2014. The revenue was better than the $141.42 million expected by the Street, but the net loss per share was higher than anticipated. For the fourth quarter and full-year, the company expects net revenue in the ranges of $149.5 million to $154.5 million, and $545.5 million to $551.5 million, which is close to the current analyst estimates. Investors were surprised by the results, as Yelp Inc (NYSE:YELP)’s stock was losing ground for the last two days straight and it is down by nearly 60% year-to-date. During the second quarter, the number of funds bullish on Yelp Inc (NYSE:YELP) surged to 44 from 29 and they held 33% of its outstanding stock at the end of June.

Cirrus Logic, Inc. (NASDAQ:CRUS)‘s stock already closed nearly 8% higher on Wednesday, dragged by solid results reported by Apple (see details), and gained another 4% in aftermarket on the back of its own results. The company posted net sales of $306.76 million for the second quarter of fiscal 2016 and non-GAAP EPS of $0.65, higher than $210.21 million and $0.54 delivered a year earlier. The Street expected EPS of $0.59 on revenue of $306.58 million. Moreover, the fourth quarter revenue outlook of $370 to $400 million is in line with estimates of $374 million. A total of 25 funds held shares of Cirrus Logic, Inc. (NASDAQ:CRUS) at the end of June, owning around 10% of its outstanding stock in aggregate.

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