Technology stocks were slightly higher in afternoon trade, with
shares of technology companies in the S&P 500 climbing about
In company news, Xilinx Inc. (
) tumbled to a 16-month low Wednesday after the specialty
chip-maker reported above-consensus earnings during its fiscal Q1
but also forecast more declines in future revenue.
Q1 EPS was $0.62, up from a $0.56 per share gain during the
year-ago period and beating the Capital IQ consensus by $0.01 per
share. Revenue increased 6% year over year to $613 million, lagging
the Street view expecting $631.6 million.
Revenue was down about 1% from the prior quarter, with XLNX
attributing the decline to weaker-than-anticipated sales from its
defense and wireless businesses.
For the current quarter, XLNX is expecting sales to be flat to
down 4% sequentially while analysts currently are modeling a 5%
increase to around $644.1 million.
Separately Tuesday, XLNX declared a quarterly cash dividend of
$0.29 per share, payable August 27 to shareholder of record on Aug.
XLNX shares were down nearly 15% at $40.98 each in recent trade,
earlier sinking to a session low of $39.13 a share, matching its
worst share price since March 2013.
In other sector news,
(-) MANH, (-1.8%) Q2 EPS of $0.29 beats by $0.02 per share.
Revenue rises 19.5% to $122.5 mln, topping consensus by $10.46 mln.
Raises FY14 guidance to new range of $1.10 to $1.12 per share,
exceeding Street by at least $0.03. Projected revenue also
(-) UIS, (-19.6%) Reverses $20.4 mln profit last year with $12.1
mln Q2 net loss. Excluding one-time items, earns $0.11 per share,
missing Street view by $0.82 per share. Revenue slips 6% to $806
million, lagging estimates by $21 mln.
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