Sector Update: Tech

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Technology stocks were adding to slight gains earlier in today's session with shares of technology companies in the S&P 500 climbing about 0.4% this afternoon.

In company news, Frequency Electronics ( FEIM ) shares were ending with moderate gains Friday, with shares of the electronics manufacturer reporting better-than-expected fiscal Q4 revenue and earnings falling short of Wall Street expectations.

The maker of precision time and frequency technology earned $0.09 per share, improving on a $0.01 per share net loss during the same quarter last year but lagging the Capital IQ consensus by $0.07 per share.

Revenue rose 11.1% to $19.5 million, beating analyst estimates by around $1.18 million.

Looking forward to FY15, FEIM board chairman said the company is expecting its new satellite payload and secure communication products to contribute to higher revenue and profits.

FEIM shares were ahead about 1.2% at $10.75 each shortly before the closing bell this afternoon, earlier advancing to an intra-day high of $11.25 a share. The stock has a 52-week range of $9.52 to $13.31, climbing almost 13% over the past 12 months.

In other sector news,

(+) ICLD, Reports an influx of new purchase orders for its WiFi, distributed antenna systems and other next-generation mobile network solutions, including more than $3.1 mln in orders from existing clients.

(-) KFX, Projected FY14 revenue rises as much as 11.9% over prior-year levels but trail the enterprise software firm's financial guidance, largely due to $6 million in delays in license revenue transactions.



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This article appears in: Investing , Commodities

Referenced Stocks: FEIM

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