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Technology Sector Update for 05/07/2015: VECO,ATML,VRNS

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Technology stocks were rebounding, with shares of technology companies in the S&P 500 increasing more than 0.9%.

In company news, Veeco Instruments ( VECO ) rose after the semiconductor components company late Wednesday reported better-than-expected Q1 earnings and revenue.

Net loss for the January-to-March period was $19.1 million, or $0.48 per share, down only slightly from its $19.2 million loss last year. Excluding one-time items, its net loss narrowed to $0.01 per share, improving on $0.06 per share lost during the same quarter last year and beating the Capital IQ consensus by $0.09 per share.

Revenues grew 8.3% from year-ago levels to $98.3 million, also topping analyst estimates by around $1.2 million.

For the current quarter ending in June, the company is expecting per-share earnings in a broad range of a $0.06 loss to a $0.33 per share profit on between $100 million to $150 million in revenue. The Street is looking for a $0.17 per share gain on $128.8 million in revenue.

VECO shares were up more than 7% at $30.25 apiece, earlier climbing to an intra-day peak of $31.67 a share. The stock has traded within a 52-week range of $27.80 to $38.40 a share, sliding nearly 14% lower over the past 12 months prior to Thursday's rise.

In other sector news,

(+) ATML, (+6.6%) Adjusted Q1 EPS of $0.11 tops Capital IQ consensus by $0.02 per share. Revenue declines 6.1% to $316.9 mln, exceeding estimates by $1.62 mln. Also CEO Steven Laub announces plans to retire, effective August 31.

(-) VRNS, (-25.4%) Reports adjusted Q1 net loss of $0.44 per share, missing the Street view by $0.03. Guides Q2 outlook below consensus and lowers FY15 guidance under Street views.

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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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