Technology stocks are extending their slide this afternoon, with
shares of technology companies in the S&P 500 retreating about
0.9% as a group.
In company news, Fleetmatics Group plc (
) is up more than 16% at $37.75 a share after the Irish software
firm reported adjusted Q3 earnings that topped analyst estimates by
$0.03 per share. Quarterly revenue also beat expectations.
Non-GAAP adjusted earnings for the fleet-management software
company rose from $0.19 per share in the year-ago quarter to $0.25
per share during the three months ended Sept. 30. Revenue advanced
39.5% year over year to $46.3 million, exceeding the Capital IQ
consensus by $1.75 million.
Forward guidance was more of a mixed bag, however, with the
company forecasting Q4 revenue in a range of $48.6 million to $49.2
million, topping the Street view by at least $1.64 million.
Projected EPS of $0.21 to $0.23, however, merely straddles the
$0.22 per share consensus.
In other sector news,
, (+79.0%) Shares opened at $45.10 each - a 73% premium to its
$26-per-share IPO price - and climbed above $50 before stabilizing
near $46. The offering of 20.5 mln shares generated $2.1 bln in
gross proceeds before any over-allotments are exercised.
(-) INWK, (-38.2%) Misses with Q3 earnings, revenue. Slashes
FY13 guidance, cutting projected EPS by $0.30 to a new range of
$0.16 to $0.20 per share - trailing analyst consensus by at least
$0.26. Also trims revenue forecast below Street view.
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