Tech Sector Leading Market Rally; Acacia Research Slammed After Wide Q3 EPS, Revenue Misses

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MSFT 0.00%

AAPL +0.77%

IBM -0.69%

CSCO +1.14%

GOOG +13.36%

Technology stocks are higher today, with shares of technology companies in the S&P 500 rising 1.6% and helped by a 13.7% gain past $1,000 per share by Google ( GOOG ) after the search-engine giant reported Q3 earnings that topped analyst expectations by $0.37 per share.

In company news, Acacia Research ( ACTG ) is down nearly 21% at $15.52 a share, earlier sliding to a new 52-week low after posting $0.11 per share Q3 net loss, well below analyst forecasts expecting a $0.39 profit for the technology-patents aggregator.

ACTG also missed expectations for $49.66 million in quarterly sales by a wide margin, recording just $15.52 million in sales, or 68.7% under projections.

In other sector news,

(+) VJET, German 3-D printer company doubles in price after pricing its initial public offering of 6.5 million shares at $13 apiece, generating around $84.5 million in gross proceeds.

(-) AMD, Chip-maker reports first quarterly profit in nearly two years but outlook for the current quarter is less optimistic than analysts were expecting.



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: ACTG , GOOG

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