Sector Update: Technology

By Staff,

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Technology stocks are higher today with shares of technology companies in the S&P 500 rising about 0.6%.

In company news, Perion Network ( PERI ) is down near 12% but edging off its lows for the session that followed the software company reporting Q2 sales of $24.4 million, trailing the Thomson Reuters mean by $1.32 million. The company earned $0.26 per share, also missing estimates expecting a $0.33 gain.

Looking forward, PERI said its sees Q3 sales between $20 million and $22 million, adding it expects to meet its FY13 guidance.

The company also today announced a multi-year search and distribution relationship with Yahoo ( YHOO ), with CEO Josef Mandelbaum saying PERI is now partnered with four search providers, further diversifying its search-advertising revenue stream."

In other sector news,

(+) PTIX, (+42.7%, near 52 week highs) Extending rally ignited by better-than-expected Q2 results last week.

(-) RMBS, (-3%) Completes $300-million private placement of senior notes.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: PERI , YHOO

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