Technology Sector Update for 11/14/2017: AVNW,MOSY,NTIP

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Technology stocks added to their narrow retreat during afternoon trading, with shares of tech companies in the S&P 500 falling over 0.3% in late trade.

In company news, Aviat Networks ( AVNW ) was holding on to much of a 24% rise to a session high of $15.96 a share in late Tuesday trading after the microwave networking equipment manufacturer last night reported a smaller non-GAAP net loss during its fiscal Q1 compared with year-ago levels.

Excluding one-time items, the company recorded a $0.12 per share net loss during the three months ended Sept. 30, improving on a $0.49 per share adjusted net loss during the same quarter last year. Net sales slipped 3.5% year over year to $56.2 million. No analyst estimates were available for comparison.

Looking forward, Aviat is projecting between $60 million to $63 million in sales during the current quarter ending Dec. 31 and is forecasting FY18 sales in a range of $245 million to $255 million - narrowing the top end of its outlook by $5 million from its prior guidance.

In other sector news,

(+) MOSY, Non-GAAP Q3 net loss of $0.18 per share tops Street view looking for a $0.48 per share net loss. Sales rise 56.3% to $2.5 mln, exceeding analyst mean by $900,000. Guides Q4 sales at least 94% above the $1.7 mln consensus.

(-) NTIP, Considering a potential appeal after a federal jury in eastern Texas rejects its patent infringement accusations against Hewlett-Packard ( HPQ ), ruling certain claims for its Remote Power technology were invalid.

NTIP said it was considering future actions, including a potential appeal.

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: AVNW , HPQ , MOSY , NTIP

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