Sector Update: Technology

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Technology shares are mixed in pre-bell trading, as Silicon Graphics International Corp. ( SGI ) is down 14% at $14.00 as it reported preliminary Q1 EPS of $0.02-$0.04, compared to previous guidance of $0.08-$0.14 per share.

Total revenue for Q1 is expected to be approximately $147 million, lower than previous guidance of $160 million-$170 million. The revenue shortfall was primarily due to the impending government shutdown at quarter-end, which led to the freezing of funds for a Federal project; and to delayed acceptance of a non-Federal project.

And, E2open ( EOPN ) is down 14% at $17.50 after it reported a Q2 loss of $0.10 per share, ex one-time items, versus the Capital IQ consensus of $0.15 loss per share. Revenues were $18.6 million, versus the analyst estimate of $17.23 million.

The company expects Q3 loss per share of $0.21 - $0.18 on revenues of $18.1 million - $18.6 million. The Street view is loss of $0.04 per share on revenues of $20.80 million.

For FY14, the company sees loss per share of $0.57 - $0.53 on revenues of $73.2 million - $74.2 million. The Street view is for loss of $0.34 per share on revenues of $77.62 million.



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: EOPN , SGI

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