Sector Update: Technology

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Technology shares were firmly higher in pre-market trading on Monday.

In technology stocks news, Sprint ( S ) was up 7.5% after it reported Q4 revenue of $9.1 billion, better than the analyst consensus of $8.96 billion on Capital IQ. Loss for the quarter was $0.26, vs. expectations of a loss of $0.34 per share. Adjusted EBITDA was $1.15 billion, ahead of expectations of $1.00 billion.

For 2014, the company expects adjusted EBITDA of $6.5-$6.7 billion and capex of about $8 billion. The Street consensus for EBITDA is $6.69 billion.

And, Demandware ( DWRE ) reported Q4 earnings and sales that topped analysts expectations and said its contract backlog rose 67% in the FY over the year earlier.

Q4 non-GAAP income was $0.16 per diluted share, down from $0.17 the year earlier but exceeding the $0.15 average estimate from analysts polled by Capital IQ.

Finally, Canadian Solar ( CSIQ ) was down 5.7% after it said that for Q4 it expects solar module shipments to be in the range of approximately 605 MW to 620 MW, which exceeds the company's original guidance of 480 MW to 500 MW.

Canadian Solar said its Q4 revenue should be in the range of $510 million to $520 million. The guidance is below the analyst consensus on Capital IQ of $532 million in revenue.



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: S , DWRE , CSIQ

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