Technology

Technology Sector Update for 03/04/2016: HPE,SUNE,TERP,NMB

Top Tech Stocks

MSFT -0.67%

AAPL +1.77%

IBM +0.35%

CSCO -0.06%

GOOG -0.33%

Technology stocks were stretching out their smallish gains from earlier into today's session, with shares of tech companies in the S&P 500 more recently rising about 0.4%.

In company news, shares of Hewlett Packard Enterprise Company ( HPE ) advanced Friday after the technology systems company reported fiscal Q1 per-share earnings that exceeded analyst estimates.

Excluding one-time items, the company earned $0.41 per share during the three months ended Jan. 31, topping the Capital IQ consensus by $0.01 per share. Revenue slipped 2.5% from year-ago levels to $12.72 billion, also nudging past the $12.65 billion consensus.

For the current quarter ending in April, Hewlett Packard Enterprise is projecting adjusted net income of between $0.39 to $0.43 per share, bridging the $0.42 per share consensus. It also is expecting adjusted per-share earnings of $1.85 to $1.95, in-line with the $1.87 per share Street view.

HPE shares were up more than 14% this afternoon at $15.56 apiece, easing from a session high of $15.84 a share during morning trading.

In other sector news,

(+) SUNE, (+13.8%) Signs settlement and will pay $28.5 mln to resolve all disputes among the companies over prior termination of Latin American Power acquisition with with TerraForm Power ( TERP ) .

(-) NMBL, (-9.9%) Projected Q1 net loss of $0.25 to $0.27 per share is at least $0.09 wider than Street view. Guides Q1 revenue in-line with consensus. Reports adjusted Q4 net loss of $0.12 per share, matching Street view. Revenue climbs 32% from year-ago levels to $90.1 mln, topping $88.2 mln 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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