Top Tech Stocks
Technology stocks added to their narrow retreat during afternoon trading, with shares of tech companies in the S&P 500 falling over 0.3% in late trade.
In company news, Aviat Networks ( AVNW ) was holding on to much of a 24% rise to a session high of $15.96 a share in late Tuesday trading after the microwave networking equipment manufacturer last night reported a smaller non-GAAP net loss during its fiscal Q1 compared with year-ago levels.
Excluding one-time items, the company recorded a $0.12 per share net loss during the three months ended Sept. 30, improving on a $0.49 per share adjusted net loss during the same quarter last year. Net sales slipped 3.5% year over year to $56.2 million. No analyst estimates were available for comparison.
Looking forward, Aviat is projecting between $60 million to $63 million in sales during the current quarter ending Dec. 31 and is forecasting FY18 sales in a range of $245 million to $255 million - narrowing the top end of its outlook by $5 million from its prior guidance.
In other sector news,
(+) MOSY, Non-GAAP Q3 net loss of $0.18 per share tops Street view looking for a $0.48 per share net loss. Sales rise 56.3% to $2.5 mln, exceeding analyst mean by $900,000. Guides Q4 sales at least 94% above the $1.7 mln consensus.
(-) NTIP, Considering a potential appeal after a federal jury in eastern Texas rejects its patent infringement accusations against Hewlett-Packard ( HPQ ), ruling certain claims for its Remote Power technology were invalid.
NTIP said it was considering future actions, including a potential appeal.
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.