Sector Update: Technology

By
A A A
Share |

Technology stocks are ending with small gains and shares of technology companies in the S&P 500 climbing about 0.1% in afternoon trade.

In company news, Youku Tudou ( YOKU ) is up more than 10% at $29.02 a share after reporting a 14% increase in Q3 revenue over the year-ago period to $140.2 million, topping analyst expectations by $1 million.

The online television company also narrowed its adjusted net loss to $0.01 per share, also beating the Street view by a penny.

For Q4, the company is forecasting revenue of 35% to 42% to between $141.2 million to $147.7 million, trailing the Capital IQ consensus by around $3.4 million. YOKU also said it expects to reach non-GAAP profitability during the quarter.

In other sector news,

(+) ICLD, Online data management, storage and monitor service nearly triples in prices after reversing a $2.16 per share net loss last year by earning $0.12 per share in Q3. Revenue surges 448% over year-ago levels to $16.2 mln.

(-) LMOS, Prices secondary offering of 2.51 mln shares by Quadrangle Capital Partners LP at $20 per share, a 2.6% discount to last night's closing price. The company did not receive any of the $50.2 mln in gross proceeds generated by the deal.



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.

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


This article appears in: Investing , Commodities

Referenced Stocks: YOKU

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

100%

Most Active by Volume

81,862,240
  • $15.95 ▼ 2.68%
34,016,471
  • $58.54 ▼ 0.93%
32,051,373
  • $36.31 ▲ 6.14%
30,594,327
  • $26.764 ▼ 0.02%
17,542,404
  • $85.37 ▲ 0.38%
12,661,219
  • $3.12 ▲ 0.97%
11,462,363
  • $13.285 ▲ 1.80%
11,096,674
  • $47.771 ▼ 1.12%
As of 4/16/2014, 11:22 AM