Sector Update: Tech Stocks Turn Positive Late; Q2 Holdings Jumps Over 19% Following Strong Q2 Results

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Technology stocks turned solidly higher this afternoon with shares of technology companies in the S&P 500 rising about 0.7%.

In company news, Q2 Holdings ( QTWO ) enjoyed a strong Q2, sending shares of the cloud-based business software company higher after it beat analyst projections with a smaller quarterly loss during the three months ended June 30.

The company last night reported an adjusted Q2 net loss of $0.11 per share, topping analyst forecasts looking for a $0.15 per share loss. Revenue rose 37.1% year over year to $19.2 million, beating the Street view by around $1.09 million.

It also issued upside FY14 guidance, boosting its revenue forecast by $2.2 million over its prior guidance to a new range of $76.2 million to $76.8 million, beating the Capital IQ consensus by at least $2.49 million.

QTWO shares were up over 19% shortly before the closing bell at $15.49, apiece.

In other sector news,

(+) WLDN, Reports Q2 net income of $1.9 million, or $0.25 per share, up from $700,000 profit last year. Revenue rose 31.6% over year-ago levels to $27 mln, in-line with single analyst estimate. Also awarded $22.3 mln contract by Con Edison.

(-) UNXL, Q2 net loss of $0.49 per share was $0.02 wider than the Capital IQ consensus. The company did not report any revenue during the April-to-June quarter compared with $749,000 in revenue last year.



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: QTWO

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