Technology

Technology Sector Update for 05/06/2016: MRIN,SWIR,FEYE

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Technology stocks have continued to add to their mid-day advance, with shares of tech companies in the S&P 500 posting a 0.6% gain.

In company news, Marin Software ( MRIN ) retreated on Friday after the company last night offered up revenue guidance for its current quarter trailing analyst estimates.

The cloud-based digital advertising company is expecting to generate between $25 million to $25.6 million in revenue during the quarter ending in June, coming up at least $1.25 million short of the Capital IQ consensus. It also is expecting to report an adjusted Q2 net loss of $0.06 to $0.08 per share, straddling both sides of the Street view by a penny.

Marin last night also reported above-consensus Q1 earnings and revenue. Excluding one-time items, the company lost a $0.01 per share on $27.2 million in revenue, beating expectations for a $0.06 per share loss and $26.6 million in revenue.

MRIN shares were down more than 14% at $2.20 this afternoon, earlier dropping to a worst-ever $1.88 a share.

In other sector news,

(+) SWIR, Fiscal Q2 adjusted net income of $0.08 per share beat Capital IQ consensus by $0.07 per share. Revenue falls 5.1% from year-ago levels to $142.8 mln, also topping estimates by $2.9 mln.

(-) FEYE, Guides Q2, FY16 revenue below consensus. Projected Q2 EPS also lags. Q1 revenue rises 34.0% to $168 mln but still trails the $171.72 mln consensus. Net loss of $0.47 per share tops Street view by $0.03 per share.

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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