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Sector Update: Technology

By: MT Newswires
Posted: 2/19/2014 9:06:00 AM
Referenced Stocks: SUNE;GRMN;ZBRA

Technology shares were flat to lower in pre-market trading Wednesday.

In technology stocks news, semiconductor-materials and solar-energy company SunEdison ( SUNE ) reported an unexpected Q4 adjusted loss per share while revenue also came in below analysts' expectations.

Shares declined 2.1% to $14.86 in recent pre-market trading, after they had reached a new 52-week high at $15.44 Tuesday ahead of the results.

Garmin ( GRMN ) reported Q4 revenue of $759.6 million, better than the analyst consensus of $714.5 million on Capital IQ. EPS was $0.76, vs. expectations of $0.62 per share.

For 2014, the company expects revenue of $2.6 to $2.7 billion and EPS of $2.50 to $2.60, vs. the Street view of $2.58 billion in revenue and earnings of $2.55 per share.

The company also said CFO Kevin Rauckman will leave Garmin within the next year.

Finally, Zebra ( ZBRA ) reported Q4 earnings of $0.82 per share, better than the analyst consensus of $0.78 per share on Capital IQ. Revenue was $284.5 million, vs. expectations of $276.8 million.

For Q1, the company expects sales of $276 million to $286 million and EPS of $0.77 to $0.87, vs. the Street view of $262.5 million and earnings of $0.65 per share.