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From Briefing.com: 4:46 pm SolarCity misses by $0.19, beats on revs; guides Q2 EPS below consensus, revs below consensus (SCTY) :

Reports Q1 (Mar) loss of $2.56 per share, excluding non-recurring items, $0.19 worse than the Capital IQ Consensus of ($2.37); revenues rose 81.6% year/year to $122.57 mln vs the $110.02 mln Capital IQ Consensus.

MW Deployed 214 MW, +40% y/y (Guidance was for 180 MW)."We significantly exceeded our projected 180 MW mostly due to the earlier completion of a large utility-scale project in Maryland that was originally anticipated for Q2 2016".Cost per Watt of $3.18 increased 19% from the fourth quarter of 2015 largely owing to lower volumes.

Installation costs decreased 6% year-over-year, albeit rising 3% quarter-over-quarter to $1.98 due strictly to a larger mix of higher cost commercial projects.structured financed team recorded one of its strongest quarters yet with $728 million in total project financing raised in the quarter (and $1.1 billion through April).Portfolio is 74% residential and 26% C&I and is geographically diversified across 18 states plus D.C. (38% East Coast, 34% California, 13% Arizona, 8% Nevada, and 7% other).

'As this was not only our first transaction but also covered a portfolio that had a higher mix of C&I projects with 10- 15 year contract lengths than we typically install, we view this weighted average cost of capital as a starting point that will trend lower on subsequent transactions and ultimately expect this to be an important new channel for financing our growth in the future'.Consolidated Gross Margins were 11%.

Operating expenses were $227 million, up 54% year-overyearCo issues downside guidance for Q2, sees EPS of ($2.80)-($2.70), excluding non-recurring items, vs. ($2.23) Capital IQ Consensus Estimate; sees Q2 revs of $135-143 mln vs. $152.39 mln Capital IQ Consensus Estimate.Expect GAAP Revenue from Periodic Billings of $105-108 million, Solar Energy Systems and Components Sale Revenue of $14-16 million,Revenue from Operating Lease Prepayments and Upfront Incentives of $16-19 million.

Operating Expenses are forecast to range between $240 million and $250 millionCo sees 185 MW deployed, down 2% y/y.Remain on target for our cost goal of $2.25 per Watt in 2017.Well positioned to achieve goal of generating positive cash by year-end even as we continue to add MW to our portfolio and incur cash expenditures for both research and development activities and our module manufacturing operations.

4:21 pm Novatel Wireless announces partnership agreement to offer Ctrack telematics services to MTN's IoT customer base (MIFI) : The solution enables MTN's business subscribers to seamlessly integrate fleet management and vehicle tracking solutions using MTN's Pan African IoT SIM cards, enabling businesses to benefit from a single rate for IoT activity across the company's footprint in Africa. In addition, this allows companies with transcontinental operations to easily monitor and track vehicles across borders.

4:11 pm MaxLinear beats by $0.01, reports revs in-line; guides Q2 rev midpoint above consensus; acquires wireless infrastructure backhaul business of Broadcom (AVGO) (MXL) :

Reports Q1 (Mar) earnings of $0.47 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.46; revenues rose 190.1% year/year to $102.7 mln vs the $102.22 mln Capital IQ Consensus.

Co issues upside guidance for Q2, sees Q2 revs of $100-104 mln vs. $100.21 mln Capital IQ Consensus Estimate. signed a definitive agreement to acquire certain assets and intellectual property related to the wireless infrastructure backhaul business of Broadcom Corporation, or Broadcom, for $80.0 million in cash.

The acquisition is currently expected to close on or around July 1, 2016, subject to customary closing conditions and regulatory approvals. The acquisition complements MaxLinear's multi-year organic development initiative in wireless microwave backhaul RF transceiver solutions.

4:07 pm Rackspace beats by $0.12, reports revs in-line; guides Q2 revs in-line; guides FY16 revs in-line (RAX) :

Reports Q1 (Mar) earnings of $0.34 per share, excluding non-recurring items, $0.12 better than the Capital IQ Consensus of $0.22; revenues rose 7.9% year/year to $518.1 mln vs the $519 mln Capital IQ Consensus. Co issues in-line guidance for Q2, sees Q2 revs of $519-524 mln vs. $523.72 mln Capital IQ Consensus Estimate. Co issues in-line guidance for FY16, sees FY16 revs of $2.08-2.16 vs. $2.12 bln Capital IQ Consensus Estimate.

4:05 pm Applied Optoelectronics beats by $0.01, misses on revs; guides Q2 EPS below consensus, revs below consensus (AAOI) :

Reports Q1 (Mar) loss of $0.04 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of ($0.05); revenues rose 66.9% year/year to $50.4 mln vs the $51.47 mln Capital IQ Consensus. Co issues downside guidance for Q2, sees EPS of $0.04-0.08, excluding non-recurring items, vs. $0.22 Capital IQ Consensus Estimate; sees Q2 revs of $49.5-52.0 mln vs. $56.26 mln Capital IQ Consensus Estimate.

4:05 pm Vivint Solar misses by $0.06, misses on revs (VSLR) :

Reports Q1 (Mar) loss of $0.65 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus of ($0.59); revenues rose 81.1% year/year to $17.2 mln vs the $17.89 mln Capital IQ Consensus. MW Booked of approximately 66 MWs for the quarter, up 33% year-over-year. MW Installed of approximately 55 MWs, up 19% year-over-year. Total cumulative MWs installed were approximately 514 MWs. Installations were 7,704 for the quarter, up 20% year-over-year. Cumulative installations were 76,231.

4:05 pm SolarEdge Technologies beats by $0.10, beats on revs; guides Q2 revs in-line (SEDG) :

Reports Q1 (Mar) earnings of $0.51 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus of $0.41; revenues rose 44.9% year/year to $125.2 mln vs the $123.23 mln Capital IQ Consensus. Co issues in-line guidance for Q2, sees Q2 revs of $125-134 mln vs. $134.18 mln Capital IQ Consensus Estimate; Gross margins to be within the range of 29-31%.

4:03 pm Lattice Semi misses by $0.16, misses on revs; guides Q2 revs below consensus (LSCC) :

TECH STOCKS - Reports Q1 (Mar) loss of $0.17 per share, $0.16 worse than the Capital IQ Consensus of ($0.01); revenues rose 8.9% year/year to $96.5 mln vs the $98 mln Capital IQ Consensus.Non-GAAP Gross Margin 60.0%.Co issues downside guidance for Q2, sees Q2 revs of $97-103 mln vs. $107.43 mln Capital IQ Consensus Estimate.Sees Non-GAAP EPS in the range of 55-59%.

Broader market action closed out Monday split, with the decline solely in the lap of the Dow Jones Industrial Average which lost 34.72 points (-0.20%) today to close 17705.91 owing the decline a sell-off in June Crude Oil futures which fell -2.6% today and news that the Saudi oil minister Ali al-Naimi was replaced by the Chairman of the Saudi Arabian Oil Co, Khalid al-Falih. On the other hand, the advance was led by the tech-heavy Nasdaq Composite which added 14.05 points (+0.30%) today, ending 4750.21. The S&P 500 finished in the middle, modest higher by 1.55 points (+0.08%) to 2058.69.

The rebound in crude oil came on the heels of reports, which indicated that the wildfire impacting Canada's oil-sands region may result in production losses between 645,000 and one million barrels per day. However, the energy component would shed these gains ahead of the opening bell.

Equity futures slipped overnight as investors digested disappointing April import (-10.9% YoY) and export (-1.8%) data out of China. Compounding the negative datapoints were comments from a high-ranking Chinese official, who cast doubt on further monetary stimulus. The commentary was also underscored by caution towards the speed of a rebound in China's economy. However, futures shook off early weakness following above-consensus German Factory Orders for March (+1.9%) and a rebound in oil.

Sectors as measured by the S&P finished split on Monday, looking something like this XLV +1.14%, XLU +0.57%, XLP +0.54%, XLY +0.28%, IYZ -0.03%, XLF -0.26%, XLI -0.45%, XLB -1.21%, XLE -1.46%. Technology (XLK 42.25, flat) finished unchanged, as the majority of the session was spent above flat lines, but gains would not hold. Component Harris (HRS 75.66, +1.07 +1.43%) was notably strong as it was announced Friday after the close that the company was the recipient of a $405.5 million contract from the US Army.

In the S&P 500 Information Technology (697.64, +0.09 +0.01%) sector, trading edged lower into the close but ultimately ended with modest gains. Component Fiserv (FISV 103.62, +0.98 +0.95%) displayed relative out-performance following a premarket upgrade at Argus to a Buy rating from a Hold. Other names in the space which finished higher included FFIV +1.21%, TSS +1.07%, FISV +0.95%, EA +0.91%, EBAY +0.84%, FIS +0.67%, SWKS +0.65%, V +0.64%, FLIR +0.63%, INTU +0.62%, APH +0.55%, QCOM +0.55%, GOOGL +0.54%.

Other notable news items among sector components:

According to a WSJ article, Salesforce.com (CRM 74.62, +0.37 +0.50%) agreed to acquire data-entry automation company Implisit Insights.

Harris (HRS) received a $405.5 million contract from the US Army.

Ipswich City Council has selected Accenture (ACN 115.47, -0.04 -0.03%) to progress their 'Smart City' Transformation Strategy and Implementation Plan. This initiative will develop and deliver an innovative blueprint to optimise city operations, enhance community engagement, cultivate digital technology capabilities and lead economic innovation.

NVIDIA (NVDA 35.28, -0.05 -0.14%) announced the NVIDIA GeForce GTX 1080 -- the first gaming GPU based on the company's new Pascal architecture -- providing up to 2x more performance in virtual reality compared to the GeForce GTX TITAN X.

IBM (IBM 147.34, +0.07 +0.05%) and SK Holdings (SKCXF) announced plans to bring IBM's Watson cognitive services to South Korea. The strategic alliance, which includes training Watson to understand Korean, is designed to dramatically accelerate the adoption of cognitive computing throughout the region, giving South Korea-based developers a set of localized APIs and services they can use to help create their own applications and build new businesses.

Elsewhere in the tech space:

Booz Allen Hamilton (BAH 27.71, +0.13 +0.49%), Leidos (LDOS 49.09, -0.12 -0.24%), and two other non-public companies received an approximate $250 million contract from the US Army.

IPG Photonics (IPGP 84.53, +0.76 +0.91%) acquired Menara Networks for $46.8 million in cash. The company expects immediate earnings accretion per the deal.

Qihoo 360 Tech (QIHU 65.11, -8.30 -11.31%) confirmed the awareness of privatization rumors. The company believes these rumors to be untrue.

FactSet (FDS 151.90, +1.33 +0.88%) increased its quarterly dividend to $0.50 per share from $0.44 per share.

Groupon (GRPN 3.37, +0.08 +2.43%) sold Breadcrumb to Upserve. Financial terms of the deal were not disclosed.

In reaction to quarterly results:

ON Semiconductor (ON 9.11, -0.30 -3.19%) reported better than expected Q1 EPS of $0.17 on in-line revenues which fell 6.2% versus last year to $817.2 million. ON also guided Q2 revenues in-line at $835-875 million.

Ebix (EBIX 47.82, +0.58 +1.23%) reported better than expected Q1 EPS and revenues of $0.67 and $71.1 million, respectively.

Stratasys (SSYS 20.79, -0.27 -1.28%) reported better than expected Q1 EPS and revenues of $0.01 and $167.9 million, respectively. SSYS also reaffirmed FY16 EPS and revenue guidance of $0.17-0.43 and $700-730 million, respectively.

Tower Semi (TSEM 12.51, +0.75 +6.38%) reported Q1 EPS of $0.34 and revenues which rose 22.9% versus last year to $278 million. TSEM also guided Q2 revenues in-line at $285-315 million.

Q2 Holdings (QTWO 24.91, +1.74 +7.51%) reported better than expected Q1 EPS and revenues of ($0.11) and $33.8 million, respectively.

Companies scheduled to report quarterly results tonight/tomorrow morning: AAOI CNXR CVG DMD DTSI GLOB INVN LSCC MXL MODN OPWR FENG RAX RNET SREV SSNI SCTY SEDG SEMI TTGT TTEC TUBE TCX/SATS IMN NTWK NOK OTIV PERI SPNS VPG ZBRA

Analyst actions:
FISV upgraded to Buy from Hold at Argus,
FIS upgraded to Buy from Hold at Jefferies, CAMP upgraded to Buy from Neutral at Sidoti,
COMM upgraded to Buy from Neutral at Goldman; WDAY downgraded to Sell from Hold at Brean Capital, CVT downgraded to Mkt Perform from Mkt Outperform at JMP Securities, TEL downgraded to Neutral from Buy at Goldman, EGAN downgraded to Neutral from Buy at Ladenburg Thalmann; MLNX initiated with a Buy at Brean Capital

4:10 pm : The stock market began its week on a flat note as a rebound in the heavyweight health care (+1.1%) sector compensated for a downturn from the oil pit. Additional focal points for today's trade included strengthening in the dollar, weakness in commodities, and the outperformance of the heavy-weighted consumer discretionary space (+0.3%). The Nasdaq Composite (+0.3%) ended ahead of the S&P 500 (+0.1%) and the Dow Jones Industrial Average (+0.1%).

The major averages slipped from their opening levels as investors focused their attention on a persistent downturn in crude oil. The energy component abandoned its early gains as participants weighed a four-month rally in oil against the impact of an ongoing wildfire in Canada's oil-sands region. Early estimates project that the fire near Fort McMurray will result in production losses between 645,000 and one million barrels per day. However, the energy component has already rallied 66.2% since its closing low of $26.14/bbl on February 11.

To be fair though, dollar-denominated gold (-2.1%; 1,226.80/ozt), iron ore (-6.3%; $54.65/mt), and copper (-2.3%; 2.10/lb) also ended the day lower as they each felt pressure from an uptick in the greenback and below-consensus data out of China. Over the weekend, April import (-10.9% year-over-year; expected -5.0%) and export (-1.8%; consensus -0.1%) data from China came in below consensus while commentary from a high-ranking official called into question further stimulus measures from the government.

Equity indices ticked off their session lows in the early afternoon as the heavily-weighted health care (+1.1%) and consumer discretionary (+0.3%) spaces extended their gains. The two finished near the top of the leaderboard along with countercyclical consumer staples (+0.6%) and utilities (+0.5%). Conversely, commodity-sensitive energy (-1.2%) and materials (-1.3%) rounded out the board.

In the health care sector (+1.1%), generic drug names outperformed as they rebounded from losses registered in the wake of disappointing guidance from Endo International (ENDP 15.27, -0.90). On that note, Allergan (AGN 213.71, +12.06) gained 6.0% today after declining 4.1% last Friday. The company is scheduled to deliver its quarterly report tomorrow morning. Elsewhere, biotechnology outperformed, evidenced by the 2.6% gain in the iShares Nasdaq Biotechnology ETF (IBB 261.90, +6.62).

The SPDR S&P Retail ETF (XRT 43.73, +0.70) outperformed in the consumer discretionary space (+0.3%) as retail names rebounded from a selloff following last week's disappointing same-store sales readings. Elsewhere, Chipotle Mexican Grill (CMG 453.17, +19.36) gained 4.5%, closing above last week's high ($447.46). On the flipside, JD.com (JD 23.41 ,-1.78) fell 7.1% after sales volume declined alongside growth concerns in China.

In the energy space (-1.2%) oil and gas service names underperformed with Halliburton (HAL 38.69, -0.75) and Schlumberger (SLB 72.77, -2.35) declining 1.9% and 3.1%, respectively. The broader energy sector extended its May decline to 4.2%, compared to a loss of 0.3% in the benchmark index.

The U.S. Dollar Index (94.14, +0.25) ended higher as the greenback gained against the yen and euro. The dollar/yen pair finished higher by 1.2% (108.38) after commentary from Japanese Finance Minister Taro Aso alluded to intervention in the foreign exchange market if the yen poses a continuing risk to trade or the country's broader economy. Separately, the euro lost 0.2% against the dollar (1.1383).

The Treasury complex ended its day higher with the yield on the 10-yr note slipping three basis points to 1.75%.

Today's trading volume was above the recent average as more than 941 million shares changed hands on the NYSE floor.

Investors did not receive any noteworthy economic data today.

Tomorrow's economic data will include the March Job Openings and Labor Turnover Survey and Wholesale Inventories for March (Briefing.com consensus +0.2%), which will both cross the wires at 10:00 ET.

Nasdaq Composite -5.1% YTD
Russell 2000 -1.5% YTD
S&P 500 +0.7% YTD
Dow Jones +1.6% YTD