Technology stocks were ending with strong gains this afternoon
with shares of technology companies in the S&P 500 jumping over
In company news, Parametric Sound (
) tumbled hard Thursday, falling to a 14-month low after the audio
equipment company priced underwritten offering of 4 million shares
of its common stock at $10.00 each, a 30% discount to Wednesday's
The deal generated $35.6 million in net proceeds after paying
underwriter discounts and other offering expenses. The remaining
funds are slated to repay debt and for working capital and other
general company purposes.
HEAR shares were down about 26.1% at $9.61 apiece in
late-afternoon trade, just a penny off its session low and matching
some of its worst prices since February 2013.
In other sector news,
(+) AAPL, Expands stock buyback by $30 billion; OKs 7-for-1
stock split, likely setting up the stock to join the Dow Jones
Industrial index. Earns $11.62 per share in Q2 on $45.6 bln,
topping consensus looking for EPS of $10.18 on $43.53 bln in
(-) SQNS, Q1 revenue rises 95.7% to $4.5 mln but lags
expectations by $500,000. Net loss of $0.13 per share matches
estimates. Q2 EPS guidance trails Street by at least $0.01 per
share while projected revenue is at least $1.03 mln under
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