Markets

Sector Update: Technology

Technology stocks were ending littled changed with shares of technology companies in the S&P 500 falling less than 0.1% this afternoon.

In company news, shares of Plug Power ( PLUG ) advanced Tuesday after the company's chief executive told attendees at an investor conference today the fuel cell company will likely generate full-year revenue topping analyst estimates.

PLUG shares were up more than 6% in late Tuesday trading at $4.14 apiece, earlier climbing to an intra-day high of $4.55 a share. The stock has a 52-week range of 22 cents to $11.72 a share, posting a nearly 16-fold rise in its share price over the past 12 months.

During the Wedbush 2014 Transformational Technologies Management Access Conference in New York today, PLUG CEO Keith Schmid reportedly forecast around $70 million in revenue during the 12 months ending in December, exceeding the Capital IQ consensus call by around $5 million.

Schmid also said PLUG expects to to ship over 3,000 units this year, also expecting gross margins of around 25% this year.

In other sector news,

(+) RAX, Earns $27.3 mln, or $0.18 per share, during Q1, beating Capital IQ consensus by $0.12 per share. Net revenue climbs 16% year over year to $421 mln, exceeding estimates by $1.47 mln. Guides Q2 revenue in-line with Street view.

(-) DQ, Q1 net income of $0.38 per ADS reverses $2.70 per share net loss in the year-ago period. Revenue rises 190% year over year to $42.1 mln. No analyst estimates were available for comparison.

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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