Tech Stocks Losing More Ground Late; Stratasys Climbs to New 52-Week High on Strength of Q3 Results


Technology stocks are extending their slide this afternoon with shares of technology companies in the S&P 500 now retreating about 1.3% as a group.

In company news, Stratasys ( SSYS ) is up about 4% at $119.46 a share, earlier climbing to a new 52-week high, after reporting better-than-expected earnings and raising its guidance for the year.

The 3D printer maker posted per-share earnings of $0.45, ex items. Revenue rose 39% year over year to $126.1 million, topping estimates by $9.1 million.

SSYS also boosted its FY13 revenue guidance to $470 million to $490 million, beating analyst forecasts by at least $5 milloion. It sees EPS for the year of $1.75 to $1.90, in-line with estimates looking for a $1.83 per share annual profit.

In other sector news,

(+) TWTR , Shares opened at $45.10 each - a 73% premium to its $26-per-share IPO price - and climbed over $50 before stabilizing near $46. But the deal has at least one naysayer, with Pivotal Research reducing the new stock to Sell, saying it's "just too expensive."

(-) INWK, Misses with Q3 earnings, revenue. Slashes FY13 guidance, cutting projected EPS by $0.30 to a new range of $0.16 to $0.20 per share - trailing analyst consensus by at least $0.26. Also trims revenue forecast below 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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: SSYS

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