Markets

Sector Update: Tech

A generic image of a pen and on top of a chart.
Credit: Shutterstock photo

Technology stocks were higher Thursday with shares of tech companies in the S&P 500 rising about 0.4% as a group.

In company news, CBD Energy Limited ( CBDE ) soared Thursday after the specialty chip-maker said its Australian subsidiary was awarded an installation and maintenance contract worth about $1.7 million.

The contracts are slated to begin next month and expected to be completed by December. As part of the agreements, the company will also earn ongoing operations and maintenance fees.

CBDE shares were ahead nearly 17% at $3.31 apiece, earlier climbing to a session high of $3.44 a share. The stock has traded within a 52-week range of $2.16 to $18.00 a share, retreating 76.4% since beginning trading in February at $12 a share.

In other sector news,

(+) SMTC, (+5.7%) Adjusted Q2 EPS of $0.42 tops estimates by $0.03 per share. Revenue falls 11.7% year over year to $145.7 mln, beating Street view by $3.75 mln. Sees Q3 EPS of $0.42 to $0.48, in-line with $0.46 estimate. Q3 revenue guidance also matches Street view.

(-) ECOM, (-2.6%) Signs new lease agreement for its headquarters, agreeing to pay a minimum of $23.50 per square foot, or just over $3.21 mln annually, rising 2.75% each year. Beginning January 1, 2017, the Company also will be obligated to pay its proportionate share of the landlord's operating expenses for the building.

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.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities