Markets

Technology Sector Update for 03/20/2015: SCON,ENVI,ISNS

Top Tech Stocks

MSFT +1.08%

AAPL -1.13%

IBM +1.92%

CSCO +1.17%

GOOG +0.27%

Technology stocks were mostly higher this afternoon with shares of technology companies in the S&P 500 jumping about 1.1%.

In company news, Superconductor Technologies ( SCON ) retreated to a record low Friday after the chipmaker announced plans for a private placement of 3.1 million shares of its common stock to selected certain investors.

Shares were priced at $1.6325 a share. The offering also included 66-month warrants to buy up to 1.5 million additional shares, exercisable at $1.6325 per share.

SCON shares were down over 13% at $1.36 apiece, or just 5 cents above its new all-time low set earlier today.

In other sector news,

(+) ENVI, Trims Q4 net loss to $1.6 mln, or $0.06 per share, improving on $2.0 net loss last year. Non-GAAP net loss of $0.02 beats by $0.09 per share. Revenue rises 1.6% to $12.7 mln, topping analyst projections by $3.29 mln.

(-) ISNS, Narrows Q4 net loss by 63.3% compared with same quarter last year to $3.9 mln, or $0.77 per share. Revenue declines 13% over year-ago levels to $5.7 million. No analyst estimates are available for comparison.

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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