Technology

Technology Sector Update for 01/10/2017: PXLW,XGTI,QUIK

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Technology stocks were recording moderate gains Tuesday, with shares of tech companies in the S&P 500 increasing about 0.2% recently.

In company news, Pixelworks ( PXLW ) was surging Tuesday after the specialty chipmaker today said it sees Q4 revenue near the top of its prior guidance in addition to forecasting a GAAP profit for the period.

The company currently is expecting to generate around $16 million in revenue during the three months ended Dec. 31 after earlier forecasting between $15 million to $16 million for the period and topping the Capital IQ consensus by around $510,000. It is also projecting a quarterly profit on a GAAP basis during Q4, improving on its previous guidance looking for a net loss between $0.06 to $0.00 per share

PXLW shares were up over 9% at $3.08 each this afternoon, easing slightly from a session high of $3.23 a share shortly after today's opening bell.

In other sector news,

(+) XGTI, (+21.3%) Regains full compliance with all listing requirements of the Nasdaq stock exchange.

(-) QUIK, (-4.0%) Sees its Q4 revenue at around $2.9 mln, the mid-point of the company's prior guidance for the period and matching the $2.9 mln Capital IQ consensus.

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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