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Technology stocks were ending with small gains Tuesday afternoon, overcoming a lackluster response to Apple's latest iPhone model, with shares of tech companies in the S&P 500 climbing about 0.1% in recent trading.
In company news, Progress Software ( PRGS ) reached a record high on Tuesday, rising to a best-ever $36.54 a share, after the data management and cloud-computing applications company today issued preliminary fiscal Q3 net income and revenue exceeding Wall Street expectations.
Excluding one-time items, the company is expecting to report per-share earnings of $0.48, up from its prior outlook expecting a non-GAAP profit between $0.41 to $0.43 per share and topping the Capital IQ consensus by $0.06 per share. On a GAAP basis, Progress is now expecting to earn $0.23 per share during the three months ended Aug. 31.
The company also said revenue for the June-through-August period will likely come in at around $97.3 million, also surpassing its previous guidance looking for revenue in a range of $93 million to $96 million and beating the $96.4 million analyst mean.
Progress is scheduled to report its full Q3 financial results on Sept. 27.
In other sector news,
(+) VERI, Climbs to a new, record high after forming new partnership with privately held Wazee Digital, which will now offer Veritone's proprietary platform of artificial intelligence tools to its clients.
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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.
