Technology Sector Update for 02/08/2017: JIVE,COHR,RGSE

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Technology stocks were ending slightly higher in late-day trade, with shares of tech companies in the S&P 500 posting a 0.2% advance.

In company news, Jive Software ( JIVE ) continued to advance during Wednesday trading, with shares of the social business platform company finishing near their session highs after it reported Q4 financial results exceeding Wall Street expectations and forecast net income for the current quarter topping analyst estimates.

Excluding one-time items, the company earned $0.07 per share during the three months ended Dec. 31, reversing a $0.05 per share net loss during the same quarter last year and beating the two-analyst consensus by $0.04 per share. Revenue increased 3.1% over year-ago levels to $51.7 million, also beating the $50 million single-analyst estimate.

For Q1, the company is projecting adjusted per-share earnings of $0.04 to $0.05, topping the two-analyst estimate by at least a penny. It also sees revenue for the January-to-March period between $50 million to $51 million while the lone analyst tracking revenue is expecting $51 million in Q1 revenue.

JIVE shares were up more than 10% at $4.35 apiece in late trade, staying within 10 cents of its session high.

In other sector news,

(+) COHR, Adjusted fiscal Q1 EPS of $2.57 per share beats Capital IQ consensus by $0.76 per share. Revenue rises 81.9% over year-ago levels to $346.1 mln, also exceeding the $316.98 mln consensus.

(-) RGSE, Prices $6 mln public offering at $2.50 per unit, consisting of one share of common stock and a five-year Series M warrant to buy 75% of a share at $2.40 a share. Also sells alternative units of one prepaid warrant exercisable at $2.49 a share and one Series M warrant.

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: COHR , RGSE

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