Markets

Sector Update: Technology

Technology stocks are narrowly higher, with shares of technology companies in the S&P 500 climbing about 0.2%.

In company news, Callidus Software Inc ( CALD ) is up nearly 13% at $7.60 a share, just off its new 52-week high of $7.71 set earlier despite the company's reporting Q2 revenue that topped analyst estimates.

Quarterly revenue during the three months ended June 30 rose 9% over year-ago levels to $25.9 million, beating the Street view by around $800,000. CALD's $0.02 per share net loss trailed analyst expectations looking for a break-even quarter.

Q3 and FY13 guidance are roughly in-line with estimates. The company is projecting Q3 revenue in a range of $25.9 million to $27 million, coming in $100,000 - or 0.3% - of the $27.1 million analyst consensus. FY13 revenue is seen in a range of $106 million to $109 million, in-line with the $106.3 million consensus.

In other sector news,

(+) ALSK, (+24.1%) Q2 GAAP net income of $0.81 per share, reversing a $0.02 per share net loss last year. Revenue climbs 8.6% to $97.7 million, topping the Street view by $6.14 million. High end of expected FY13 revenue roughly in-line with analyst estimates looking for $50.94 million.

(-) VCLK, (-17.2%) Revenue falls 0.7% from a year ago to $159.8 million, trailing the consensus by $6.43 million. Forecasts Q3 EPS of $0.39 to $0.40, coming up $0.02 shy of expectations. Projected Q3 revenue lags analyst estimates by $12 million.

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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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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