Technology stocks were little changed Wednesday afternoon with
shares of technology companies in the S&P 500 slipping less
than 0.1% today.
In company news, GSI Group Inc. (
) was down in late afternoon trading today, with shares slipping
about 0.5% after revenue for the laser-measurement company missed
analyst projections for the three months ended Dec. 31.
Quarterly revenue advanced 32.1% over year-ago levels to $87.7
million, lagging estimates by $310,000. It earned $0.18 per share
during Q4, excluding one-time items, beating the Capital IQ
consensus by $0.04 per share.
The company also offered in-line guidance for FY14 revenue,
forecasting a range of $360 million to $370 million. The Street is
looking for $361.87 million.
GSIG shares were down 0.5% at $12.26 each shortly before the
closing bell, just 7 cents off its intra-day low. The stock has a
52-week range of $7.92 to $12.90 a share.
In other sector news,
(+) INFN, Raised to Buy from Neutral at Goldman Sachs, which
contends consensus opinion "is underestimating the revenue growth
potential associated with customer upgrades." Price target left
unchanged at $11.50 a share.
(-) MX, The company's audit committee determines the chip-maker
incorrectly recognized revenue on certain transactions dating back
to its annual reports for 2011 and 2012 as well as quarterly
results through the first nine months of 2013.
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