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Sector Update: Technology

By: MT Newswires
Posted: 11/12/2013 2:17:00 PM
Referenced Stocks: PERI

Technology stocks are narrowly higher, with shares of technology companies in the S&P 500 gaining nearly 0.2%.

In company news, Perion Network Ltd ( PERI ) is up more than 17% at $11.95 a share after the online messaging company reported Q3 EPS of $0.31, topping the Capital IQ consensus by $0.08 per share.

Revenue rose 31% year over year to $21.3 mln, also beating the analyst consensus by around $200,000.

In other sector news,

(+) OTIV, (+21.6%) Electronic payment-processing company said on Monday its OTI Africa subsidiary received more than $1 mln in purchase orders for its EasyFuel Plus system.

(-) HSOL, (-11.3%) Reports non-GAAP Q3 net loss of $0.78 per share. Revenue declines 4% from the prior quarter to $185 mln. No analyst estimates were available for comparison.