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Small Advance for Tech Sector Near Closing Bell; Fusion-IO Fizzles After Q4 Revenue, Forecasts Lag Street Views

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MSFT +2.36%

AAPL -0.86%

IBM -0.41%

CSCO +0.36%

GOOG +0.40%

Technology stocks are moderately higher with shares of technology companies in the S&P 500 rising about 0.2%.

In company news, Fusion-IO ( FIO ) is down over 24% at $11.26 a share, drifting back near its new 52-week low of $11.11 after posting a fiscal Q4 revenue missed analyst estimates and issued a downbeat revenue forecast for FY14, prompting a host of analyst downgrades.

After the close on Wednesday, Fusion-IO ( FIO ) reported fiscal Q4 revenue of $106.1 million, trailing expectations by $3.9 million. Its $0.03 per share net loss matched the Street view.

The data-storage firm also said it is expecting FY14 revenue to grow about 20% to a range of $80 million to $90 million, well under Wall Street expectations looking for 29% growth and around $124 million in revenue this year.

In other sector news,

(+) GRPN, Reaches new 52-week high after posting better-than-expected Q2 revenue and naming a new CEO. The daily-deal company also picks up a slew of analyst upgrades.

(-) SGI, Fiscal Q4 revenue trails analyst estimates by around 4.1%. Issues downside Q1 guidance, with projected EPS and revenue both lagging Wall Street expectations.

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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