Technology Sector Update for 03/18/2016: EMAN, GVP, JBL

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Technology stocks held on for slim gains Friday,with shares of tech companies in the S&P 500 rising about 0.1%.

In company news, eMagin ( EMAN ) was lower at the closing bell, retracing earlier declines that followed the semiconductor components company reporting a wider-than-expected Q4 net loss but also beating a two-analyst consensus with its quarter revenue.

The company recorded an $0.08 per share net loss during the three months ended Dec. 31, $0.02 wider than the mean estimate of two analysts. Revenue was little changed from year-ago levels at $6.7 million, exceeding the two-analyst consensus by around $2.05 million.

EMAN shares were hit with a late selloff, falling 2.5% to finish at $1.95 each, after earlier bouncing back from morning slide as low as $1.92 a share although some late profit-taking has pared a 7.5% rise to a session high at $2.15 a share.

In other sector news,

(+) GVP, Announces repeat contract award from existing client to build three more simulator stations for nuclear power over the next 18 to 24 months. Company estimates new contract will increase its current backlog by around 60% to $75 mln.

(-) JBL, Cut to Hold from Buy in a downgrade today at Argus.

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: EMAN , GVP , JBL

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