Sector Update: Technology Stocks Weighed Down Pre-Market; SunEdison Sinks 2% on Q4 Loss

By Staff,

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Top Technology Stocks:

MSFT: -0.53%

AAPL: -0.19%

IBM: flat

CSCO: flat

GOOG: flat

Technology shares were flat to lower in pre-market trade Wednesday.

In technology stocks news, semiconductor-materials and solar-energy company SunEdison ( SUNE ) reported an unexpected Q4 adjusted loss per share while revenue also came in below analysts' expectations.

Shares declined 2.1% to $14.86 in recent pre-market trading, after they had reached a new 52-week high at $15.44 Tuesday ahead of the results.

Garmin ( GRMN ) reported Q4 revenue of $759.6 million, better than the analyst consensus of $714.5 million on Capital IQ. EPS was $0.76, vs. expectations of $0.62 per share.

For 2014, the company expects revenue of $2.6 to $2.7 billion and EPS of $2.50 to $2.60, vs. the Street view of $2.58 billion in revenue and earnings of $2.55 per share.

The company also said CFO Kevin Rauckman will leave Garmin within the next year.

Finally, Zebra ( ZBRA ) reported Q4 earnings of $0.82 per share, better than the analyst consensus of $0.78 per share on Capital IQ. Revenue was $284.5 million, vs. expectations of $276.8 million.

For Q1, the company expects sales of $276 million to $286 million and EPS of $0.77 to $0.87, vs. the Street view of $262.5 million and earnings of $0.65 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: SUNE , GRMN , ZBRA

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