Technology

Technology Sector Update for 09/07/2017: AVNW, EGAN, AIRG

Top Tech Stocks

MSFT +1.53%

AAPL -0.35%

IBM -0.85%

CSCO -0.24%

GOOG +0.52%

Technology stocks were edging higher in recent trading, with shares of tech companies in the S&P 500 adding about 0.4% in extra value today.

In company news, Aviat Networks ( AVNW ) climbed to a session high of $17.84 a share during Thursday trading after the microwave communications company significantly narrowed its fiscal Q4 non-GAAP net loss compared with year-ago levels.

Excluding one-time items, the company posted a non-GAAP net loss of $0.03 per share during the three months ended June 30, improving on a $1.22 per share loss during the same quarter last year while revenue declined 3.1% from last year to $56.4 million. Analyst estimates were not available.

For the current quarter ending later this month, Aviat is projecting revenue in a range of $57 million to $60 million. It also is looking for between $245 million to $260 million in FY18 revenue, topping its $241.9 million in revenue during the recently concluded 12 months ended June 30.

In other sector news,

(+) EGAN, (+28.1%) Reports Q4 EPS of $0.00, better than a single estimate for a $0.08 loss. Revenue drops to $14.6 mln but still tops the $13.4 mln estimate from two analysts.

(-) AIRG, (-15.4%) Sees FY17 revenue rising 12% to 15% over prior year compared with analyst consensus looking for 26.6% growth to $54.8 mln. Also projects an increase of over 20% in FY18 revenue while Street is modeling a 20.2% rise next year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

AIRG AVNW EGAN

Other Topics

Commodities

Latest Technology Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More