Technology
NOW

Technology Sector Update for 04/21/2016: DWCH,NOW,SYNT

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Technology stocks were ending moderately lower this afternoon, with shares of tech companies in the S&P 500 falling around 0.4%.

In company news, Datawatch Corp ( DWCH ) surged after the business software firm last night reported a fiscal Q2 adjusted net loss of $0.14 per share, improving on a year-ago loss of $0.29 per share, and in line with analyst estimates.

On a GAAP basis, its net loss was $3.36 million, or $0.29 per share, during the three months ended March 31, compared with a net loss of $5.81 million and $0.51 per share during the same quarter last year.

Revenue was little changed compared with last year at $7.42 million, narrowly beating out the Capital IQ consensus looking for $7.37 million.

DWCH shares were up more than 17% at 5.36 apiece in late trade following a nearly 3% decline during today's regular session.

In other sector news,

(+) NOW, Q1 EPS of $0.09 per share tops consensus view by $0.02 per share. Revenue rose 44.3% over last year to $305.9 mln, also beating the $300.83 mln consensus. Reports Q1 backlog of $376.7 mln compared with guidance expecting between $360 mln to $365 mln.

(-) SYNT, Q1 EPS of $0.63 misses by $0.02 per share. Revenue rises 9.4% to $241.39 mln, also lagging the $245.65 mln consensus. Lowers FY16 EPS outlook by $0.20 to $2.55 to $2.80 per share, trailing Street by at least $0.11. Lowers projected revenue to $1.01 bln to $1.04 bln vs. $1.04 bln 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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