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Sector Update: Technology

By: MT Newswires
Posted: 3/28/2014 3:20:00 PM
Referenced Stocks: BLIN

Technology stocks were giving up much of their earlier gains today with shares of technology companies in the S&P 500 up 0.2% in late trade.

In company news, Brideline Digital ( BLIN ) rallied Friday, with shares of content management software firm climbing to some of their best levels in over a month after announcing a multi-year contract with an unidentified healthcare communications technology company.

According to BLIN, the client will use its iAPPSds platform to support around 3,700 independent physician and dentist micro-websites. The agreement has an initial term of three year and was valued at around $7 million in iAPPS licensing fees and related services.

Shares climbed nearly 48% in a mid-morning surge, reaching a peak of $1.30 each before easing into their more recent range around $1.13 a share, up 28.4%. The stock has a 52-week range of 67 cents to $1.50 a share.

In other sector news,

(+) PAMT, Said name change to Turtle Beach and ticker change to HEAR will be complete by May. Sees 10% rise in Q1 revenue over year-ago levels. FY14 revenue projected in a range of $1.21 mln to $4.23 mln.

(-) RHT, Forecasts Q1 and FY15 EPS that each trail analyst estimates by at least $0.04 per share; revenue guidance was in-line. Q4 earnings of $0.39 per share top consensus by $0.02 while $399 mln in revenue matched Street view.