Sector Update: Technology Shares Mixed Pre-Market; IBM Sinks on Q4 Results

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Top Technology Stocks:

MSFT: flat

AAPL: +0.35%

IBM: -3.41%

CSCO: -0.74%

GOOG: +0.27%

Technology shares are mixed in pre-market trading today.

In technology stocks news, IBM ( IBM ) is down more than 3% today after management said it had a difficult cash flow year in 2013, with cash flow down more than $3.0 billion.

Late yesterday, IBM reported Q4 EPS of $6.13, ahead of the analyst consensus of $6.00 per share on Capital IQ. Revenue was $27.7 bln, below expectations of $28.2 bln.

And, Motorola Solutions ( MSI ) said its Q3 earnings from continuing operations jumped 52% to $1.67, exceeding the $1.62 average Capital IQ analyst estimate while total sales rose 3% to $2.5 billion, in line with the consensus.

Non-GAAP earnings included a one-time tax benefit of $1.25 per share. MSI closed higher 1.53% yesterday.

Finally, electronic components manufacturer TE Connectivity Ltd. ( TEL ) said adjusted EPS for Q1 2014 was a record $0.82 versus the Capital IQ consensus of $0.77. Year-ago adjusted EPS was $0.65.

Net sales increased to $3.33 billion, up 6% versus the prior year, in line with analysts' estimate.

The company forecasts adjusted EPS of $0.88 to $0.92 on net sales of $3.4 to $3.5 billion for Q2. Analysts are looking for adjusted earnings of $0.89 on revenues of $3.4 billion.

For fiscal 2014, the company expects net sales of $13.8 to $14.2 billion and adjusted EPS of $3.65 to $3.85. Analysts polled by Capital IQ are expecting earnings of $3.67 and revenues of $13.9 billion.



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: IBM , MSI , TEL

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