Technology stocks are unable to shake off disappointing results
and guidance last night from sector giant Cisco (
). At last look, shares of technology companies in the S&P 500
were down 0.3% as a group.
In company news, SolarCity (
) is up nearly 5% at $56.58 a share after the maker of photovoltaic
modules announced a new partnership with BMW, offering owners of
the upscale vehicles exclusive access to SCTY's most affordable
solar-energy services to recharge electric- and hybrid-power
Through the partnership, new BMW buyers in SCTY's 14-state
service territory will receive a 10% discount on the company's
home-solar package. The deal also offers several flexible financing
options, including no upfront installation cost and locking in
electric rates for 20-year terms.
There is no word whether SCTY - founded and initially funded by
) Chief Executive Elon Musk - plans to extend a similar offer to
buyers of TSLA's all-electric cars.
Earlier today, the company's SolarCity LMC Series I LLC unit
completed a $54.4 million offering of solar asset-backed notes. The
stock also picked up an upgrade to Outperform from Neutral at
Robert W. Baird, which also raised its price target by $21 to $71 a
In other sector news,
(+) YUME, (+31.9%) Reports Q3 net loss of $0.03 per share,
beating consensus estimate by $0.08. Revenue climbs 39.2% year over
year to $36.2 mln, topping Wall Street opinion by $1.73 mln. Issues
in-line guidance forecasting Q4 revenue of $57.4 mln to $60.4
(-) PRCP, (-21.7%) Posts surprise Q1 net loss of $0.07 per
share, reversing $0.08 gain in the year-ago period and trailing
lone analyst estimate expecting a $0.05 per share profit. Net sales
slip 2.4% to $12.1 mln, also lagging analyst view by $690,000.
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