Top Tech Stocks
Technology stocks were broadly higher, with shares of tech
companies in the S&P 500 soaring to a 2.3% gain.
In company news, TubeMogul (
) shares declined Tuesday, quickly giving back an earlier advance
that followed the digital branding company last night reporting a
smaller Q4 net loss than analysts were expecting and exceeded the
Street view with its net sales during the October-to-December
The company recorded a net loss of $1.5 million, or $0.04 per
share, during the three months ended Dec. 31, improving on a $4.0
million and $0.14 per share net loss during the same quarter last
year and also coming in considerably smaller than the $0.14 per
share loss analysts were expecting.
Net sales rose 62% over year-ago levels to $58.5 million, also
beating the Capital IQ consensus looking for $52.19 million.
For the current quarter ending later this month, TubeMogul is
expecting Q1 sales in a range of $40 million to $42 million, in
line with estimates looking for $40.81 million this quarter.
Looking forward to the entire year, the company is projecting
FY16 sales of between $220 million to $228 million, exceeding the
Street view expecting $216.9 million this year.
TUBE shares were down more than 6% this afternoon at $12.01 each
after climbing nearly 4% to a session high of $13.31 soon after the
opening bell before turning south within the first 10 minutes of
In other sector news,
(+) WDAY, (+9.5%) Q4 net loss of $0.01 per share, beating
expectations for $0.05 per share loss. Revenue rise to $323.4 mln,
topping $319 mln consensus. JPMorgan upgrade to Overweight with $85
price target. FBR Capital trims price target by $10 to $80 a
(-) OPWR, (-22.0%) Q4 net loss unchanged from last year at $0.14
per share and matching analyst expectations. Revenue rises 16% year
over year to $40.5 mln, narrowly beating Street's view looking for
$40 mln. Wunderlich trims price target by $7 to $9 a share.