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Tech Stocks Sliding; CA Tech Down Almost 4% After Weak Outlook Upstages Strong Q1 Results

Top Tech Stocks

MSFT -1.54%

AAPL -0.62%

IBM -0.87%

CSCO +7.01%

GOOG -1.39%

Technology stocks were lower, with shares of technology companies in the S&P 500 declining about 0.7%.

In company news, shares of CA Technologies ( CA ) fell Thursday after the enterprise software company forecast per-share earnings below analyst estimates, upstaging a better-than-expected Q1 profit.

CA shares were down 3.6% at $28.99 a share, or 12 cents off its session low. The stock has a 52-week range of $26.92 to $36.22 a share, rising slightly more than 9% over the past 12 months.

The company said it is expecting FY15 earnings of in a range of $2.45 to $2.52 per share, trailing consensus estimates by at least $0.03 per share. Revenue is projected in a range $4.43 billion to $4.49 billion, matching expectations for the current fiscal year.

CA earned $0.61 per share during the three months ended March 31, beating the Capital IQ consensus by $0.01 per share. Revenue fell 3.7% year over year to $1.11 billion, matching the Street view for the period.

In other sector news,

(+) CSCO, (+6.8%) Fiscal Q3 EPS of $0.51 beats by $0.03 per share. Revenue falls 5.5% to $11.54 bln, topping consensus by $180 mln. The Street was at $11.36 bln. Sees FY14 EPS at the high end of guidance of $1.95 to 2.05. Street is at $1.98 per share.

(-) LIQD, (-45.7%) Prices follow-on offering of 32 million shares at $1.25 each, a 45.6% discount to Wednesday's closing price.

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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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