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Technology Sector Update for 05/24/2017: INTU,UNXL,OOMA


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Technology stocks were enjoying a late lift this afternoon, with shares of tech companies in the S&P 500 increasing 0.4%.

In company news, Intuit ( INTU ) climbed to a best-ever $140.25 a share on Wednesday after the financial software company reported above-consensus results in its fiscal Q3 and forecast a Q4 profit also topping analyst views.

Excluding non-recurring items, the company earned $3.90 per share, beating the Capital IQ consensus by $0.03 per share. Revenue rose 10.3% over the same quarter last year to $2.54 billion, nudging past the $2.5 billion Street view.

For Q4, the company is expecting per-share earnings in a range of $0.16 to $0.18, exceeding the consensus view by at least a penny.

In other sector news,

(+) UNXL, CEO Jeffrey Hawthorne on Monday buys 12,537 shares on open market, increasing stake to 318,014 shares. CFO Christine Russell and four board members also acquire a combined 97,741 shares over the past week.

(-) OOMA, Q1 revenue rises 13% to $27.6 mln but still comes short of the $28.14 mln consensus. Non-GAAP net loss of $0.02 per share is penny smaller than the Street view. Guidance largely lags analyst means.

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: INTU , OOMA


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