Tech Stocks Back On Downward Slope; NQ Mobile Falls After Q4 Earnings Miss

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Technology stocks were declining this afternoon with shares of technology companies in the S&P 500 down about 0.4%.

In company news, American depository shares of NQ Mobile ( NQ ) declined Friday after the mobile security company reported Q1 earnings trailing analyst forecasts.

The company posted net income of $0.22 per share, excluding non-recurring items, during the three months ended Dec. 31, missing the Capital IQ consensus by $0.10 per share. Revenue rose 126.1% year-over-year to $67.9 million, beating analyst estimates by $5.07 million.

NQ also issued upside guidance for both the now-concluded Q1 and FY14. It sees Q1 revenue in a range of $75 million to $76 million, topping the Street view by at least $8.15 million. FY14 revenue is projected in a range of $320 million to $325 million, exceeding consensus opinion by $11.2 million.

NQ shares were down 14.3% at $13.71 each in recent trade, sliding as low as $13.18 a share earlier today. The stock has a 52-week range of $7.05 to $25.90 a share, rising 65.5% over the past 12 months.

In other sector news,

(+) EPAM, (+6.6%) Sees its Q1 results coming in above its previous guidance looking for EPS of $0.37 to $0.41 on between $151 mln to $153 mln in revenue.

(-) DWCH, (-29.3%) Forecasts Q2 revenue of $7.8 mln to $8.0 mln, trailing Capital IQ consensus by at least $1.16 mln. Projected $3.1 mln to $3.3 mln net loss - equal to a $0.32 to $0.39 per share loss, or at least $0.11 wider than the Street view.



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.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: NQ

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