Technology

Technology Sector Update for 02/12/2016: QLIK, QUOT, SUNE

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Technology stocks rose this afternoon, with shares of tech companies in the S&P 500 jumping nearly 1.4%.

In company news, Qlik Technologies ( QLIK ) slid to a five-year low on Friday after the business software company reported Q4 earnings and revenue trailing analyst opinion and forecast a larger net loss for the current quarter than analysts are expecting.

Net income during the three months ended Dec. 31 fell to $29.1 million, or $0.31 per share, from $29.6 million last year and lagging the Capital IQ consensus by $0.07 per share. Revenue rose 12% to $205.5 million but also came up shy of the $208.3 million consensus.

For Q1, Qlik is projecting a net loss of between $0.12 to $0.14 per share, or at least $0.04 wider than the Street view. It also sees revenue in a range of $132 million to $136 million, lagging the $141.2 million consensus.

QLIK shares were down almost 10% at $17.56 apiece, earlier sinking to their lowest price since August 2010 at $15.81 a share.

In other sector news,

(+) QUOT, Q4 revenue rises 15.7% over last year to $69.4 mln, exceeding the Street view by around $9.6 mln. Net loss of $0.02 per share was $0.01 narrower than analyst estimates.

(-) SUNE, New York state judge issues temporary restraining order barring SUNE from "concealing, transferring or removing their assets" prior to a Feb. 25 hearing.

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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