Tech Stocks Ending Underwater; Splunk Makes Big Splash After Q3 Results Beat Street Estimates

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Technology stocks are closing slightly lower, unable to overcome Intel ( INTC ) today warning of sluggish PC sales next year. At last look, shares of technology companies in the S&P 500 were down 0.2%.

In company news, Splunk Inc. ( SPLK ) is finishing today's session with a 22.5% advance, with shares now fetching $73.40 - retreating slightly from its new, all-time high of $74.76 - after the "big data" analysis firm posted better-than-expected Q3 results and issued upside guidance for Q4 revenue.

SPLK broke even with its Q3 net income, topping the Capital IQ consensus expecting a $0.01 per share loss. Revenue rose 50.9% over the same quarter last year to $78.6 million, beating analyst estimates by $7.78 million.

The company is expecting revenue during the current quarter in a range of $88 million to $90 million, exceeding the consensus view by at least $2.13 million.

In other sector news,

(+) ATRM, Receives $2.1 mln in orders from both new and existing customers for multiple sets of its VMAX integrated circuit test handlers. ATRM reported $1.9 mln in sales through first nine months of 2013. Delivery is slated for Q1.

(-) VMEM, Narrows per-share net loss by 58% from last year to $0.63 but still lags Wall Street estimates by $0.16 per share. Revenue grew 37% to $28.3 mln, trailing Capital IQ consensus by $3.4 mln. Q4 revenue guidance misses by at least $13.3 mln.



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: INTC , SPLK

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