Top Tech Stocks
Technology stocks are higher, with shares of technology
companies in the S&P 500 advancing about 0.7%.
In company news, E2open (
) is down just more than 3% at $19.75 a share, holding up
relatively well after late Thursday warning it expects to post net
losses in Q3 and FY14 significantly wider than analyst forecasts.
The cloud-based logistics software company also is projecting
quarterly and full-year revenues trailing consensus opinion.
Helping limit declines are Q2 earnings and revenue that beat
analyst projections, along with several analyst recommendations
saying investors should use Friday's price slump as a buying
Looking forward, EOPN said it now expects a net loss of between
$0.18 to $0.21 per share in Q3, lagging the Capital IQ consensus by
at least $0.14. Revenue is expected in a range of $18.1 million to
$18.6 million, or at least $2.2 million under the Street view for
For FY14, the company is expecting a net loss of $0.53 to $0.57
per share compared with analyst estimates looking for a $0.34 per
share loss. Revenue is seen coming in at $73.2 million to $74.2
million, or at least $3.42 million below Wall Street
In other sector news,
(+) OCLR, (+10.3%) Sells its fiber amplifier and micro-optics
business to II-VI (
) for $88.6 mln. IIVI expects the deal to be accretive to EPS in
FY15. OCLR chief financial officer Jerry Turin also leaving the
company, effective Nov. 8.
(-) SGI, (-7.9%) Cuts Q1 EPS outlook to $0.02 to $0.04 from
$0.07 to $0.14. Also sees $147 mln in revenue, down from $160 mln
to $170 mln. The Street is at $0.09 per share on $165.5 mln in
revenue. Said government shutdown could reduce FY14 revenue by up
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