Technology stocks were higher in late-session trade with shares
of technology companies in the S&P 500 climbing about 0.8%.
In company news, InterCloud Systems (
) was down over 20% shortly before the closing bell after
cloud-based telecom and enterprise database and software services
company saw its Q4 net loss balloon compared to year-ago
ICLD posted a net loss of $23.4 million, or $4.72, during the
three months ended Dec. 31, significantly wider than the company's
$400,000 net loss during the same quarter last year. Excluding
one-time items, it recorded a $3.24 per share loss, compared with
$0.91 loss last year.
Revenue climbed 5.4% year over year to $11.8 million. No analyst
estimates were available for comparison.
ICLD shares were down 20.3% at $6.17 each in late trade,
drifting as low as $5.52 a share earlier in today's session. The
stock has a 52-week range of $2.20 to $19.39 a share, losing nearly
50% in value over the past 12 months.
In other sector news,
(+) INTC, Changes financial reporting structure, adding a new
Internet of Things Group, which includes its Wind River and McAfee
software units. Also creates Data Center and PC Client groups.
(-) GIMO, Reports preliminary Q1 revenue of $31.0 mln to $31.5
mln, trailing its earlier guidance by at least $2.5 mln and missing
analyst estimates by at least $3.2 mln.
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