Sector Update: Technology Shares Lower; Perion up 9% on Q3 Results


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Top Technology Stocks:

MSFT: -0.45%

AAPL: -0.21%

IBM: -0.03%

CSCO: +0.02%

GOOG: -0.20%

Technology shares are lower in pre-bell trading, while Perion Network ( PERI ) is up 9.7% as it reports Q3 revenue was up 31% to $21.3 mln, vs. the analyst consensus of $21.1 mln on Cap IQ. EPS was $0.31, up 31% as well and ahead of the Street view of $0.23 per share.

For FY 2013, the company expects revenue of $102 to $104 mln and EPS of $1.38 to $1.45 per share, vs. expectations of $105.5 mln in revenue and earnings of $1.37 per share.

And, Software products developer Cimatron Ltd. ( CIMT ) gained 7% in pre-market trade after reporting stronger-than-expected EPS and record revenues for Q3 2013.

CIMT said non-GAAP diluted EPS was $0.11, up from $0.07 in the same period last year, beating the Thomson Reuters consensus of $0.06. Revenues rose year over year to a record $10.3 million from $9.5 million recorded in Q3 2012.

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

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This article appears in: Investing , Commodities
More Headlines for: CIMT , PERI

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