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The Best And Worst Technology Company Stocks In The First Half Of 2018

Twenty-eight of the 44 technology companies on our watch list recorded gains in the price of their publicly traded shares in the first half of 2018. Take a look at who were the winners and who were the losers.

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IBM

CEO: Virginia Rometty

Dec. 29, 2017 Close: $153.42

June 29, 2018 Close: $139.73

Change: -8.92%

After several years of steadily shrinking revenue, IBM's revenue began growing again in late 2017 and that growth has continued into 2018. In its 2018 second quarter (ended June 30), revenue from the company's "strategic imperatives," including cloud computing, analytics and security, grew 26 percent and for the first time accounted for more than half of all quarterly revenue.

For the first six months of 2018 IBM reported revenue of $39.08 billion, up 4.4 percent from $37.44 billion in the first half of 2017. Net income for the first half of 2018 was $4.08 billion, flat with the net income reported for the first half of 2017.

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Hortonworks

CEO: Rob Bearden

Dec. 29, 2017 Close: $20.11

June 29, 2018 Close: $18.22

Change: -9.40%

For the first six months of 2018, big data platform developer Hortonworks reported revenue of $165.4 million, up 40 percent from $117.8 million in the first six months of 2017. The company reported a $83.3 million loss for the first six months of 2018, down from the $110.9 million loss in the same period one year before.

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AT&T

CEO: Randall Stephenson

Dec. 29, 2017 Close: $38.88

June 29, 2018 Close: $32.12

Change: -17.39%

AT&T completed its $85.4 billion acquisition of global entertainment and media powerhouse Time Warner in late June, just days after U.S. District Court Judge Richard Leon ruled on June 12 that the acquisition could proceed without any restrictions or conditions.

But in an unexpected move, the U.S. Justice Department announced July 12 that it would appeal Judge Leon's ruling. Now the case will continue in court and AT&T has to be wondering if it will be forced to undo an $85 billion acquisition.

For its second quarter ended June 30, AT&T reported operating revenue of $38.99 billion, down 2 percent from $39.84 billion in last year's second quarter. Net income for the most recent quarter was $5.13 billion, up 31 percent from $3.92 billion one year earlier.

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Cloudera

CEO: Tom Reilly

Dec. 29, 2017 Close: $16.52

June 29, 2018 Close: $13.64

Change: -17.43%

For its fiscal 2019 first quarter (ended April 30) Cloudera, the analytics and machine learning platform developer, reported revenue of $102.7 million, up 29 percent from $79.6 million in the first quarter of fiscal 2018. The company reported a loss of $51.0 million compared with a loss of $222.3 million one year earlier.

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Xerox

CEO: John Visentin

Dec. 29, 2017 Close: $29.15

June 29, 2018 Close: $24.00

Change: -17.67%

Xerox is another company that had a turbulent first half of 2018. On Jan. 31 Xerox announced a deal under which Fujifilm Holdings would acquire a majority stake in the storied printer and copier manufacturer. Executives at the two companies trumpeted the move, saying it would create an $18 billion industry player in the competitive printer market.

But the deal didn't sit well with activist investor Carl Icahn and Darwin Deason, the latter among Xerox's largest shareholders, who filed suit to stop the plan. That triggered a months-long battle in court, on Xerox's board and in the public domain about the company's future.

At times the battle's twists and turns boarded on the absurd: In early May CEO Jeff Jacobson and a number of Xerox board members resigned to avoid a proxy fight, only to return three days later, only to leave – this time for good – one week later.

In the end Xerox's newly reconstituted board killed the Fujifilm Holdings deal. That led to angry denunciations from Fujifilm, vows to compete against Xerox in the U.S. market, and a $1 billion lawsuit seeking damages for alleged breach of contract.

 
 
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