Technology

Technology Sector Update for 03/06/2018: BZUN,CIEN,MTLS

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Technology stocks were mainitaining slim gains Tuesday, with shares of tech companies in the S&P 500 adding less than 0.1% in value while the Philadelphia semiconductor index was posting a more than 1.0% gain.

Among technology stocks moving on news:

+ American depository shares of Baozun ( BZUN ) rallied Tuesday, to a best-ever $45.26 per ADS, after the Chinese e-commerce platform reported better-than-expected Q4 financial results and forecasted current quarter revenue to exceed analyst estimates. Excluding one-time items, the company earned RMB2.72, or $0.42, per share, up from RMB1.26 per share in adjusted net income during the year-ago period and beating the Capital IQ consensus expecting RMB1.96 per share. Revenues grew 23% year-over-year to RMB1.57 billion, or about $240.6 million, topping the RMB1.54 billion analyst mean. The company also is modeling total Q1 net revenue between RMB860 million to RMB890 million compared with the two-analyst Street view expecting RMB840.6 million. It also sees FY18 total net revenue rising above RMB5.10 billion.

In other sector news:

+ Ciena ( CIEN ) climbed nearly 13% on Tuesday, reaching a session high of $26.35 a share, after the network equipment company reported adjusted fiscal Q1 net income of $0.15 per share, slipping from $0.17 per share during the same quarter last year period but topping the Capital IQ consensus by $0.03 per share. Total revenue for the quarter rose to $646.1 million from $621.5 million last year and beat the the $641.8 million analyst mean.

+ Materialise ( MTLS ) was advancing Tuesday after the 3-D printing software company reported Q4 earnings and revenue exceeding Wall Street expectations. The company earned $0.04 per share during the three months ended Dec. 31, up from $0.01 per share in the year-ago period and doubling up the $0.02 per share Street view. Revenue rose 42.1% year over year to $53.6 million, exceeding the $43.7 million analyst consensus. Looking ahead, the company is projecting around 28% revenue growth during FY18, or about $223.2 million to $229.4 million compared with the analyst consensus looking for $238.8 million in FY18 revenue.

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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