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Technology Sector Update for 02/09/2015: IPGP,SOL,CYOU

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Technology stocks were narrowly lower in late trading today with shares of technology companies in the S&P 500 slipping about 0.1%.

In company news, IPG Photonics ( IPGP ) rallied to a record high Monday after the specialty laser company raised its Q4 guidance above Wall Street expectations.

IPGP shares recently were up more than 3% at $85.20 each after earlier hitting a new, all-time high of $87.27. Entering today's session, the stock already had risen 21% over the past 12 months.

The company said it now expects to report around $207 million in revenue during the three months ended Dec. 31, up from its prior guidance of $190 million to $205 million, topping analyst projections by at least $9.03 million. It raised projected per-share earnings to $1.06 to $1.07, which includes a $0.03 per share benefit from positive foreign currency translations, beating the Capital IQ consensus by at least $0.11 per share.

IPGP is scheduled to report it full financial results for Q4 on Feb. 20.

In other sector news,

(+) SOL, Said its photovoltaic lab in Jiangsu, China, received Witness Testing Data Program certification from Underwriter Laboratories.

(-) CYOU, Q4 non-GAAP net income falls over 68% compared to year-ago profit to $13.7 mln, or $0.25 per share, trailing Capital IQ consensus by $0.04 per share. Revenue increases 19% year over year to $215.9 mln, topping Street view by $4.97 mln.

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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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