Sector Update: Technology

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Tech stocks are mostly higher with shares of technology companies in the S&P 500 advancing 0.4% as a group.

In company news, Microsoft Corp ( MSFT ) is up 6% and closer to 52-week highs after late yesterday posting better-than-expected fiscal Q1 earnings and reporting improved sales of tablet computers and progress in its corporate overhaul. The software and device company reported Q1 revenue of $18.53 billion, beating the analyst consensus by $750 million. EPS of $0.62 tops Street view by $0.08 per share.

In other sector news,

(+) MKTO, (+5.9%, near 52 week highs) Narrows Q3 net loss by $0.02 compared to last year, beating analyst estimates by $0.04. Revenue jumps 65.6% year over year to $25.5 mln, topping Street view by $2.07 mln. Expects wider Q4 loss than analysts but sees revenue beating expectations.

(-) QLIK, (-18%) Q3 revenue rises 20.9% over the same quarter last year to $104.1 mln, trailing Street view by $3.69 mln. EPs of $0.05 beats by $0.02 per share. Guides Q4 EPS, revenue guidance at least $0.14 per share and 4.92 mln under consensus, respectively.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: MSFT

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