Sector Update: Tech Stocks Lower But Outperforming Most Sectors; SunEdison Rises After Surprise Q2 Profit

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Top Tech Stocks

MSFT +1.01%

AAPL -0.08%

IBM -1.11%

CSCO -0.72%

GOOG -0.56%

Technology stocks were mostly lower, with shares of technology companies in the S&P 500 slipping about 0.4%.

In company news, SunEdison Inc. ( SUNE ) was surging Thursday after the solar energy surprised Wall Street by posting an adjusted Q2 profit.

Q2 GAAP sales were $646.2 million and non-GAAP sales were $557.5 million. The mean Bloomberg estimate was for $567 million.

The company reported non-GAAP earnings of $0.12 per share, easily beating the Capital IQ consensus looking for a $0.29 loss after completing more projects during the quarter than it expected. Non-GAAP revenue rose 13.4% year over year to $557.5 million, trailing the Street view by around $16.26 million.

SUNE shares were up more than 13% at $21.84, earlier topping out during the session at $22.46 a share. The stock has a 52-week range of $6.24 to $24.35 a share, almost tripling in value over the past 12 months, rising 196.1% over that span.

In other sector news,

(+) SSYS, (+18.9%) Increases FY14 earnings forecast by $0.10 to $2.25 to $2.35 per share, topping estimates by at least $0.07 per share. Projected revenue top Streets by at least $61 mln. Q2 EPS beats by $0.11; revenue exceeds estimates by $21.53 mln.

(-) AGYS, (-5.8%) Reports fiscal Q1 net loss of $0.02 per share, trailing analyst estimates expecting $0.03 profit. Revenue was unchanged from year-ago levels at $23.7 mln.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: SUNE

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