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 (
) 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,
, 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.
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