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Sector Update: Technology

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Technology shares were generally lower in pre-market trading Wednesday.

In technology stocks news, Enzymotec ( ENZY ) shares were down more than 6% in recent pre-market trading after the company reported Q1 sales that were lower than analysts had expected and warned of lower sales in Q2 and of FY14 sales that were below estimates.

The maker of ingredients and medical foods said its Q1 non-GAAP earnings doubled to $0.24 per diluted share from $0.12 the year earlier, exceeding the $0.17 average estimate from analysts polled by Capital IQ, but sales that rose 29% to $17.9 million missed the $19.4 million consensus estimate.

Hanwha SolarOne ( HSOL ) reported Q1 revenue of RMB 1,138.4 million (US$183.1 million), up 2.3% from RMB 1,112.9 million in Q1 last year. PV shipments were 323.6 MW, up 11.9% from 289.1 MW in Q1 last year. Non-GAAP net loss per ADS was RMB 1.09 (US$0.17), vs. a year ago loss of RMB 2.40.

For Q2, the company guided for module shipments of 350 to 370 MW. For the full year, it guided for module shipments of 1.5 to 1.6 GW. Gross margins are targeted in the range of 15% to 20%.

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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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