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MSFT +0.94%
AAPL +0.58%
IBM +0.09%
CSCO -2.01%
GOOG 0.00%
Technology stocks are higher, with shares of technology companies in the S&P 500 climbing about 0.25% in afternoon trade.
In company news, Jabil Circuit Inc. ( JBL ) is down more than 8% at $22.04 a share, just 3 cents above its intra-day low after guiding its Q1 earnings and revenue below Wall Street expectations.
The electronics manufacturer late Wednesday forecast Q1 sales in a range of $4.35 billion to $4.65 billion, trailing the Capital IQ consensus by at least $240 million. Core earnings are projected in a range of $0.50 to $0.60, also lagging the Street view by at least $0.04 per share.
JBL also said it expects to book between $35 million to $85 million in charges during FY14 "related to ongoing discussions with Blackberry ( BBRY )," the company's second largest customer.
The cautious outlook overshadowed positive results for its fiscal Q4, beating per-share earnings expectations by $0.02 and also topping revenue estimates.
In other sector news,
(+) YHOO (+4.1%) Shares touch multi-year high as China's Alibaba continues to pursue plans to go public. YHOO owns 24% of the e-commerce company.
(-) WDC, (-3.89%) CFO Wolfgang Nickl to resign in November to assume similar position at ASML Holding NV ( ASML ) in the Netherlands.
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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.
