Sector Update: Technology Shares Lower: LDK Solar Down 2% on Q2 Results

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Top Technology Stocks:

MSFT: -1.32%

AAPL: -0.99%

IBM: -0.40%

CSCO: -0.84%

GOOG: -0.28%

Technology shares are lower in pre-bell trading. Shares of LDK Solar Co., Ltd ( LDK ) are down 1.7% in pre-market trade after the company reported a Q2 loss of $0.97 per share, versus consensus estimate of a loss of $0.90 on Capital IQ. Net sales totaled $114.7 million, compared to the $119 million that analysts expected. Year-ago EPS was a loss of $2.00, on net sales of $235.4 million.

For Q3, the company sees revenues in the range of $140 million to $180 million. Analysts are expecting $152 million.

And, Tessera Technologies ( TSRA ) said it has settled a patent infringement lawsuit with Freescale Semiconductor under which it will receive an undisclosed payment in return for freeing Freescale from litigation.

The company gave no further details of the settlement, but said it will not be adjusting its Q3 financial guidance. The shares are flat at $18.79, trading in a 52-week range of $13.09 - $22.59.

Finally, Integrated Device Technology Inc. ( IDTI ) announced that Ted Tewksbury has resigned as President, Chief Executive Officer and board member, effective August 27, 2013. The Board of Directors has appointed board member Jeffrey McCreary as interim President and Chief Executive Officer.

IDTI closed at $8.71 on Monday, within a 52-week range of $5.12 - $9.35.



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: IDTI , LDK , TSRA

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