Technology stocks are moderately higher with shares of
technology companies in the S&P 500 climbing 0.5% this
In company news, Universal Display Corp (
) are up 25% after reporting better-than-expected Q3 results and
raised its full-year guidance.
The maker of light-emitting diodes earned $5.5 million, or $0.12
per diluted share, during the quarter, reversing a $0.12 per share
net loss in the year earlier period and easily surpassing analyst
expectations for a break-even quarter for the company.
Revenue nearly tripled from year-ago levels to $32.8 million,
also beating the Capital IQ consensus by $11.3 million.
Looking forward, OLED is expecting to finish FY13 with between
$142 million to $144 million in revenue, up from its prior guidance
looking for $110 million to $125 million in revenue. The Street
currently is anticipating $128 million.
In other sector news,
(+) UBNT, (+15.7%, hit new 52 week highs) Reports fiscal Q1
earnings of $0.46 per share, topping the analyst consensus by
$0.06. Revenues rise 110.9% to $129.7 mln, beating Street view by
$9.9 mln. Q2 EPS guidance exceeds estimates by at least $0.02,
revenue by $6.93 million.
(-) AVG, (-13.6%) Q4 earnings guidance trails expectations by at
least $0.05 per share while projected revenue lags Street view by
as much as 18.6%. Q3 EPS of $0.52 beats by $0.05. Revenue climbs 5%
year over year rise to $100.1 mln but still misses by 2.9 mln.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.