Diamonds and Dogs
Roku (ROKU) streaming higher. The company known for device that connects televisions to streaming services like Hulu, Netflix and Amazon.com is up 20% following earnings. Roku easily beat estimates by 15 cents as revenues rose 57.4% year over year to $156.8 million. However, the company has been witnessing intense competition in this space from Apple Inc's Apple TV, Alphabet Inc's Google Chromecast and Amazon.com Inc's Amazon Fire TV.
Chip and chip equipment makers not having a good day. Seagate (STX) is down 6% on a downgrade to a sell from Goldman while Morgan Stanley has the chip equipment makers lower on comments that cyclical indicators are flashing red signal. Applied Materials is down 2.7%, Micron is down 2.3% and Lam Research is down 3%.