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

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Technology stocks were narrowly lower this afternoon, with shares of tech companies in the S&P 500 falling less than 0.2%.

In company news, Sunworks ( SUNW ) fell to a 33-month low on Tuesday, dropping almost 28% to its worst price since February 2015 at 98 cents a share, after the solar-energy company Tuesday reported a narrower Q3 net loss compared with year-ago levels, which still missed Wall Street expectations.

Net loss for the three months ended Sept. 30 was $0.09 per share, improving on a $0.29 per share net loss during the same quarter last year but coming in wider than the three-analyst consensus expecting a $0.01 per share net loss. Revenue rose 7.1% year over year to $18.8 million, also lagging the $24 million analyst mean.

In other sector news,

(+) MOSY, (+133.8%) Non-GAAP Q3 net loss of $0.18 per share beats Capital IQ consensus expecting a $0.48 per share net loss. Narrows GAAP net loss to $0.22 per share from $0.71 per share last year. Sales rise 56.3% to $2.5 million, topping the analyst mean by $900,000. Guides Q4 sales at least $1.6 million above $1.7 million consensus.

(-) NTIP, (-39.8%) Federal jury in eastern Texas rejects patent infringement accusations by Network-1 Technologies 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: SUNW , HPQ , MOSY , NTIP

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