Akamai, Adobe lead S&P 500 charge in February

Summary:Akamai and Adobe posted strong gains last month, lifting the S&P 500 to a 4.3 percent gain while other tech stocks including VeriSign, NetApp and Seagate lagged behind.


On the whole, February was a decent month for the closely followed S&P 500 as top-tier technology companies including Akamai, Adobe and Applied Materials all delivered impressive returns for shareholders.

Akamai shares rallied up from $47.68 a share on Jan. 31 to close at $61.13 on Feb. 28, a 28 percent improvement buoyed by the digital content delivery and cloud infrastructure services provider's strong fourth-quarter earnings report . Its monthly performance was the best among all technology stocks and ranked No. 4 overall among all S&P 500 stocks.

For the month, the S&P 500 moved up 76.86, or 4.3 percent, to close out February at 1,859.45.

Adobe Systems gained $9.44 a share, or 16 percent, to $68.63 last month while Applied Materials added $2.14 a share, or 13 percent, to $18.96.

It's worth nothing that a trio of online travel companies – Priceline, TripAdvisor and Expedia – were among the 15 best-performing S&P 500 stocks last month.

However, it wasn't great month for VeriSign, which tumbled from $58.75 a share to $55.11, down 6.2 percent, while NetApp and Seagate fell 4.6 percent and 1.3 percent, respectively.

Among other tech giants, Facebook rose 9.4 percent last month to $68.46 a share. Apple and Google improved 5 percent and 3 percent, respectively.

Topics: Tech Industry, Cloud, Enterprise Software


Larry Barrett is a freelance journalist and blogger who has covered the information technology and business sectors for more than 15 years. Most recently, he served as the online news editor for 1105 Media's Office Technology Group and as the online managing editor for SourceMedia's Investment Advisory Group publications Financial Pl... Full Bio

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