Sector Update: Technology Shares Higher; Garmin up 6% on Results


Top Technology Stocks:

MSFT: +0.28%

AAPL: +0.51%

IBM: -0.18%

CSCO: flat

GOOG: +0.26%

Technology shares are mainly higher in pre-market trade today as Garmin ( GRMN ), a provider of navigation, communication and information devices and applications, is up 6% at $50.80 in pre-market, past its previous 52-week high of $50.00.

It reports Q3 earnings of $0.69 per share, ex one-time items, versus the Capital IQ consensus of $0.59. Revenues were $643.6 million, versus the analyst estimate of $628.85 million.

In the same period last year, the company reports EPS of $0.74 on revenues of $672.38 million.

Also, Level 3 Communications ( LVLT ) is up more than 1% in pre-market trading after saying it narrowed its Q3 net loss to $0.09 per share from a loss of $0.76 the year earlier. The loss included $0.13 per share in severance charges and $0.08 per share in refinancing charges.

And, KVH Industries, Inc., ( KVHI ) reports Q3 revenue of $40.2 million and net income of $1.4 million or $0.09 per diluted share. During the same period last year the company reported net income of $1.7 million, or $0.12 per diluted share, on revenues of $38.8 million.

The Street consensus was for $0.10 per share on $39.0 million in revenue. KVH is flat at $13.12 in pre-market.

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.

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

This article appears in: Investing , Commodities

Referenced Stocks: GRMN , KVHI , LVLT

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