Top Tech Stocks
Technology stocks were higher this afternoon with shares of
technology companies in the S&P 500 gaining over 1.4%, aided by
a 1.5% advance for Apple (
) after the sector giant said it purchased around $14 billion of it
shares after the stock slumped last month after its growth
forecasts disappointed some investors.
In company news, Adept Tech (
) was set to finish with a 21% advance at $18.42 a share, earlier
setting a new 52-week high of $18.67 after its fiscal Q2 earnings
of $0.01 per share beat analyst estimates by $0.02 per share.
The quarter was the first time in nearly four years ADEP
generated operating income.
Revenues rose 35.2% year over year to $14.6 million, also
topping Wall Street expectations by around $700,000.
In other sector news,
(+) SMT, Shares rise to two-year highs after the maker of
interactive whiteboards posted earnings and sales that beat analyst
forecasts. It also announced plans to exit its touch-sensor
business for desktop displays.
(-) ELON, Guides Q1 net loss of $0.13 to $0.08 per share, or at
least $0.02 wider than analyst estimates. Revenue is projected in a
range of $16 mln to $18 mln, lagging consensus view by at least
$1.03 mln. Q4 EPS was in-line while revenue topped
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.