Technology Sector Update for 03/17/2017: EXA,NSAT,QBAK


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Technology stocks still were edging higher Friday afternoon, with shares of tech companies in the S&P 500 holding on to a 0.3% gain.

In company news, Exa ( EXA ) slipped Friday after the simulation software company reported below-consensus Q4 revenue growth and also forecast revenue for the current quarter and all of 2017 lagging analyst estimates.

Revenue for the three months ended Jan. 31 rose 7% over year-ago levels to $19.53 million but stopped about $720,000 short of the Capital IQ consensus. That worked to upstage better-than-expected Q4 per-share earnings of $0.05, exceeding the Street view by $0.04 per share.

For the current current ending in April, the company is projecting revenue in a range of $16 million to $17 mllion and growing to $75 million to $80 million during the 12 months ending next January. Analysts, on average, are looking for $18.77 million in Q1 revenue and $82.08 million for FY17.

EXAS shares were down over 13% at $13.61 apiece this afternoon, earlier dropping to a session low of $12.90 a share.

In other sector news,

(+) NSAT, Privet Fund Management provides non-binding letter of interest to acquire NSAT at $10.25 per share, a 13.3% premium over Thursday's closing price. The company will review offer as part of ongoing strategic review.

(-) QBAK, Trims Q4 net loss to $0.20 per share compared with $0.21 per share loss during year-ago period. Revenue declines 15.4% from year-ago period to $2.2 mln.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Technology , Commodities
Referenced Symbols: EXA , NSAT , QBAK


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