Sector Update: Tech Stocks Holding On To Small Gains; BTU International Raises Q2 Revenue Outlook


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Technology stocks were slightly higher Tuesday with shares of technology companies in the S&P 500 climbing about 0.2% this afternoon.

In company news, BTU International ( BTUI ) rose Tuesday after the maker of thermal processing equipment today raised its revenue forecast for the three months ending later this month.

BTUI shares were ahead over 15% at $3.18 each in recent trade, earlier climbing to a session high of $3.62 a share. The stock has a 52-week range of $2.20 to $4.26 a share, rising 57.6% over the past 12 months.

The company now is projecting between $16 million to $17 million in Q2 revenue, up $2 million from its prior guidance after bookings, primarily in its electronics assembly business, exceeded expectations for the period. Analyst forecasts were not available for comparison.

BTUI will report its Q2 financial results on July 29.

In other sector news,

(+) YGE, (+3.7%) Forecasts shipments increase in upcoming quarters, saying it will meet FY14 shipment guidance of 4.0 to 4.2 gigawatts. Narrows Q1 adjusted net loss from last year to $0.35 per share. Revenue was little changed at $432 mln.

(-) LITB, (-5.6%) Said company president Mark Stabingas was leaving for personal reasons. Also reaffirms Q2 revenue guidance for 16% to 19% growth, or $83.77 mln to $85.94 mln, in-line with $84.80 mln consensus.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: BTUI

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