Top Tech Stocks
Technology stocks were narrowly lower late Wednesday with shares
of technology companies in the S&P 500 falling around 0.1% this
In company news, Pegasystems (
) rallied Wednesday after reporting Q1 earnings and revenue that
topped analyst expectations and also announcing a deal to acquire
text analytics and social engagement assets to supplement its
enterprise software offerings.
PEGA shares were up nearly 14% at $18.96 apiece late in
Wednesday's session, earlier climbing to an intra-day high of
$19.45 a share. The stock has a 52-week range of $13.08 to $25.77 a
share, advancing over 44% over the past 12 months.
The company earned $0.20 per share during the three months ended
March 31, beating the Capital IQ consensus by $0.03 per share.
Revenue climbed 22.3% year over year to $142.2 million, topping the
Street view by around $8.47 million.
PEGA last night also announced a deal to acquire the text
analytics and social engagement software assets of MeshLabs
Software Private Ltd,, which it expects to combine with its Better
Business Software offerings. Financial terms of the transaction
were not disclosed.
In other sector news,
(+) QTWW, Alternative-fuels company forms long-term partnership
with Ryder (
) to develop a fleet of compressed natural gas-powered trucks. The
companies also plan to work together on improving fuel system
designs in the future.
(-) DTLK, Q1 net income of $0.06 per share, ex items, trails
Street view by $0.11. Revenue rises 4.5% year over year to $139.5
mln, lagging estimates by $15.46 mln. Q2 EPS, revenue guidance miss
by $0.08 and $12.32 mln, respectively.