Sector Update: Technology Shares Lower; Molex Q1 Earnings Top Street View


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Top Technology Stocks:

MSFT: -0.40%

AAPL: -0.38%

IBM: -0.27%

CSCO: -0.62%

GOOG: flat

Technology shares are generally lower in pre-bell trading.

In technology earnings news, Molex ( MOLX ) reported Q1 earnings of $0.46 per share, versus the Capital IQ consensus of $0.37. Revenues were $936.4 million, versus the analyst estimate of $915.3 million.

In the same period last year, the company reported EPS of $0.40 on revenues of $916.92 million.

The company said it has scheduled its annual meeting of stockholders on Nov. 15, 2013. Stockholders will be voting on the company's agreement and plan of merger with Koch Industries, Inc. which, if completed, will result in MOLX stockholders receiving $38.50 per share in cash.

And, Motorola Solutions ( MSI ) reports Q3 non-GAAP EPS of $1.32, vs. the analyst consensus of $1.02 per share on Capital IQ. Sales were $2.1 bln, vs. expectations of $2.12 bln.

For the full year 2013, the company expects revenue to be about flat vs. full year 2012 and sees EPS at $4.63 to $4.70. The Street view is $8.7 bln in revenue and earnings of $4.39 per share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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

This article appears in: Investing Commodities
Referenced Stocks: MOLX , MSI

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