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Sector Update: Technology Shares Lower Pre-Market; Allot's Q2 EPS Above Street Estimates

Top Technology Stocks:

MSFT: -0.13%

AAPL: -0.29%

IBM: -1.33%

CSCO: +0.08%

GOOG: -0.09%

Technology shares are lower in pre-bell trading. Alliance Data Systems Corporation ( ADS ), a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced its Retail Services business, which manages more than 120 branded credit programs, has come to multiple agreements with payments industry leader PayPal, an eBay Inc. ( EBAY ) subsidiary. EBAY is down 0.23% at $52.59; ADS is flat at $205.04.

Under a multi-year agreement with PayPal, Alliance Data will become an issuer for Bill Me Later credit products and will maintain a partial interest in the receivables generated under the program. Bill Me Later is a PayPal service that lets you buy now and pay later once you're approved and is a secure, instant, and reusable credit line that doesn't require qualifying customers to keep another credit card in their wallets.

And, Allot Communications Ltd. ( ALLT ) reported Q2 2013 non-GAAP net loss of $0.9 million, or $0.03 per share, on revenues of $21.5 million. Analysts expected earnings per share of $0.06 and revenues of $26.3 million. In the comparable period last year, the company reported a non-GAAP net income of $5 million, or $0.16 per share, on revenues of $26.4 million.

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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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