Sector Update: Tech Stocks Little Changed; Voxeljet Falls As Q2 Profit Lags Analyst Expectations


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Technology stocks were little changed this afternoon with shares of technology companies in the S&P 500 down less than 0.1%.

In company news, Voxeljet AG ( VJET ) is well off its worst levels of the session, with shares of the maker of three-dimensional printers reporting a wider per-share Q2 net loss compared with year-ago levels, also trailing analyst forecasts for the the period.

The company reported a Q2 net loss of $0.51 (0.38 euros) per American depository share, expanding on a $0.32 (0.24 euros) per ADS loss last year and lagging the Capital IQ consensus by $0.45 per ADS.

Revenue climbed 31% to $3.65 million (2.73 million euros), edging out analyst estimates by around $90,000.

Looking forward to its fiscal year ending in December, VJET also disappointed investors by forecasting 50% revenue growth. The Street is looking for at least 53% revenue growth during FY14.

VJET ADS were down almost 2% at $15.88 apiece, rebounding from a 7% decline earlier today to $15.11 per ADS. The stock has traded within a range of $12.85 to $70.00 since pricing its initial public offering at $13 per ADS last October, rising 24.4% over that span.

In other sector news,

(-) AZPN, (-10.6%) Q4 adjusted earnings of $0.31 per share top Capital IQ consensus by $0.10 per share. Revenue climbs 21.8% year over year to $101.5 mln, topping estimates by around 4.53 mln.

(-) OCLR, (-9.4%) Forecasts Q1 revenue in a range of $83 mln to $91 mln, trailing Wall Street expectations by at least $8.3 mln. Blames sales slowdown for 40G and lower-speed legacy products but expects "strong demand for new 100G products" in FY15.

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

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

This article appears in: Investing Commodities
Referenced Stocks: VJET

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