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Technology Sector Update for 11/20/2015: MENT,INTU,NMBL

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Technology stocks were rising Friday afternoon, with shares of tech companies in the S&P 500 adding around 0.75%.

In company news, Mentor Graphics Corp. ( MENT ) tumbled to a 33-month low on Friday after the design automation software firm missed a single-analyst projection with its Q3 per-share earnings and forecast results for the current quarter sharply below Street views.

Excluding one-time items, Mentor Graphics earned $0.28 per share, missing the lone analyst call expecting $0.01 per share. Revenue declined 0.7% from year-ago levels to $290.5 million, roughly in-line with the Capital IQ consensus of eight analysts looking for $291.8 million.

For the November-to-January period, the company is expecting to earn around $0.47 per share on around $336 million in revenue, well below the lone-analyst earnings estimate of $0.97 per share and the multi-analyst revenue forecast expecting $439.3 million.

MENT shares were down nearly 33% at $18.73 each, recovering somewhat from a morning decline to their lowest price since February 2013 at $18.00 a share.

In other sector news,

(+) INTU, (+5.6%) Surprise fiscal Q1 adjusted EPS of $0.09 per share tops Street view expecting $0.04 per share loss. Revenue climbs 16.5% to $713 mln, beating $670.9 mln consensus. guides Q2 above consensus. Raises FY16 EPS guidance.

(-) NMBL, (-50.7%) Q3 net loss of $0.14 per share is $0.07 wider than Street view. Revenue also misses. Guides Q4 EPS, revenue below consensus. At least eight analysts downgrade NMBL stock today while two others slash their price targets.

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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