Top Tech Stocks
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 (
) 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
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.