Top Tech Stocks
Technology stocks are lower in late trade with shares of
technology companies in the S&P 500 slipping about 0.8%.
In company news, Blackberry (
) is down nearly 5% to $14.15 a share, sliding as low as $13.95
after Bernstein Research cut its rating for the stock to
Underperform from Market Perform. The research shop also reduced
its price target by $5 to $10 a share.
In a new research note, Bernstein analyst Pierre Ferragu said
consumer interest in BBRY's new Q10 and Z10 smartphones is "weak,"
citing data such as Google searches on the devices. He also believe
corporate interest is slack, with BBRY shipping a total of 3 mln
units during the fiscal Q1 ended last month and 4 mln of the new
devices during the current quarter while reducing his prediction
for the second half of the year by 1 mln to 10 mln units.
Pacific Crest Securities today also reiterated its Underperform
rating for BBRY.
In other sector news,
(+) ASYS, Receives order estimated to total between $13 mln to
$15 mln for its advanced diffusion and plasma-enhanced chemical
vapor deposition equipment to be used at a large solar-panel
manufacturing plant and generating station now under construction
in San Antonio, Texas.
(-) TTEK, Revises Q3 outlook to reflect rising restructuring
costs, now projecting a net loss of $0.30 to $0.50 per share
compared with the $0.38 per share profit analysts are expecting.
Also cuts revenue forecast by about 15% to $440 mln to $490 mln.
The Street is at $551 mln. It also authorizes a $100-mln stock
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