Quantcast

Technology Sector Update for 05/31/2016: BOSC, SQI, AMSC


Shutterstock photo

Top Tech Stocks

MSFT -0.03%

AAPL -0.95%

IBM +0.21%

CSCO -0.10%

GOOG +0.42%

Technology stocks were holding on to the smallest of gains this afternoon, with shares of tech companies in the S&P 500 rising less than 0.1%.

In company news, B.O.S. Better Online Solutions ( BOSC ) raced to a two-year high on Tuesday after the Israeli provider of radio frequency identification and mobile tools company recorded a Q1 profit following a 38% jump in revenue compared with year-ago levels.

Net income for the three months ended March 31 was $220,000, or $0.09 per share, improving on a $23,000 net loss, or $0.01 per share, during the same quarter last year. Excluding one-time items, the company earned $314,000, up from an adjusted Q1 profit last year of $33,000.

Revenue increased to $8.07 million from $5.83 million last year. No analyst estimates were available for comparison.

BOSC shares have more than doubled today, recently climbing over 90% to $4.14 a share, previously topping out at their highest price since March 2014 at $4.85% a share.

In other sector news,

(+) SQI, Accepts $509 mln buyout offer from Accel-KKR, with the mid-market technology investor paying $17.75 in cash for each SQI share, a nearly 34% premium over Friday's closing price.

(-) AMSC, Sees fiscal Q1 adjusted net loss of no more than $0.90 per share compared with Street view looking for a $0.51 per share loss. Also projects $12 mln to $14 mln in revenue, lagging the $20.72 mln consensus.

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: Technology , Commodities
Referenced Symbols: BOSC , AMSC


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities








Research Brokers before you trade

Want to trade FX?