Tech Sector Breaking Even Today; Daktronics Climbs to 3-Year High After Q2 EPS, Revenue Beats

Shutterstock photo

Top Tech Stocks

MSFT -0.51%

AAPL +0.49%

IBM +0.48%

CSCO -0.26%

GOOG -0.20%

Technology stocks are little changed, with shares of technology companies in the S&P 500 slipping less than 0.1% in afternoon trade.

In company news, Daktronics ( DAKT ) is up nearly 6% at $13.31 a share, earlier climbing to its best share price in nearly three years at $14.10 after posting fiscal Q2 earnings beating Wall Street expectations by $0.06 per share. The high-tech scoreboard and electronic displays company also topped analyst estimates with its quarterly revenue.

DAKT earned $0.27 per share during the three months ended Oct. 26, unchanged from the prior-year period but easily dispatching the Capital IQ consensus looking for $0.21 per share. Revenue rose 7.8% year over year to $161.6 million, topping the Street view by $9.63 million. It was the company's best quarter for sales in five years.

The company also is forecasting "modest" sales growth and "improved financial performance" through the second half of its current fiscal year although it did not provide specific guidance.

Analysts, on average, are expecting DAKT to generate $545.89 million in revenue during the 12 months ending in April, making for about 5.3% year over year growth. EPS for the company is seen rising $0.04 over FY13 levels to $0.57 per share.

In other sector news,

(+) BRCD, (+7.8%) Q4 EPS of $0.24 beats by $0.06 per share. Revenue fell 3.3% to $559 mln, beating consensus by $3.04 mln. Issues in-line Q1 EPS guidance of $0.19 to $0.21 per share; projected revenue of $540 mln to 560 mln trails Street by at least $1.50 mln.

(-) CCIH, (-15.9%) Reverses $0.09 per non-GAAP ADS profit last year with adjusted Q3 net loss of $0.11 per ADS, $0.09 wider than Street view. Net revenue rises 31.6% to $45 mln, beating estimates by $3.9 mln. Guides Q4 revenue in-line with analyst expectations.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities
Referenced Symbols: DAKT

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?