Top Tech Stocks
Technology stocks were higher Thursday with shares of technology companies in the S&P 500 rising about 0.5%.
In company news, computer manufacturer Hewlett-Packard ( HPQ ) rallied to a three-year high today after late Wednesday reporting fiscal Q3 revenue that beat analyst expectations.
Revenue rose 1% year over year to $27.6 million during the three months ended July 31, topping the Capital IQ consensus by around $550 million. It earned $0.89 per share during the quarter, in-line with the consensus view.
For the current quarter ending in October, HPQ is projecting EPS in a range of $1.03 to $1.07 per share, bracketing the treet view looking for a $1.05 per share profit. It also sees FY14 earnings in a range of $3.70 to $3.74, again in-line with the $3.72 per share consensus.
HPQ shares were ahead over 5% at $37.02 apiece, earlier rising to a session high of $37.39 a share, matching its best share price since February 2011.
In other sector news,
(+) SMTC, 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, 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.
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