Technology Sector Update for 07/11/2019: LEDS,SLP,RVLT,EXFO,EXF.TO

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Technology stocks were falling off their prior gains this afternoon, with the shares of tech stocks in the S&P 500 still climbing nearly 0.2% while the Philadelphia Semiconductor Index was gaining more than 0.1%.

Among technology stocks moving on news:

(-) SemiLEDs ( LEDS ) dropped almost 10% on Thursday after the light-emitting diodes manufacturer reported a $0.24 per share net loss for the three months ended May 31, unchanged from the preceding quarter, while revenue increased 7% sequentially to $1.7 million. Analyst estimates were not available for comparison.

In other sector news:

(+) Revolution Lighting Technologies ( RVLT ) surged 139% Thursday after the Nasdaq Hearings Panel agreed to let the electronic components-maker's stock continue trading on the Nasdaq Capital Market, subject to certain conditions. The company will be required to file periodic updates on its audit and remediation activities and becoming current in its Securities and Exchange Commission filings by Oct. 29 in addition to demonstrating compliance with all other listing requirements.

(+) Simulations Plus ( SLP ) rose 7% after reporting net income of $0.16 per share during its Q3 ended May 31, improving on a $0.13 per share profit during the same quarter last year and beating the Capital IQ consensus by $0.02 per share. The modeling and simulations company also recorded a 16.2% revenue increase over year-ago levels to $9.94 million, also exceeding the $9.85 million Street view.

(-) EXFO ( EXFO ) fell 8.5% after late Wednesday projecting fiscal Q4 financial results trailing analyst estimates, upstaging better-than-expected earnings for the three months ended May 31. The network testing and monitoring firm sees net income of $0.02 per share to a $0.02 per share net loss on between $66 million to $71 million in sales compared with the Street view expecting EXFO to earn $0.03 per share on $74.2 million in revenue during the current quarter.

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: LEDS , RVLT , SLP , EXFO

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