Monday, August 06, 2012 8:27:47 PM
01:16 PM EDT, 07/17/2012 (MidnightTrader) -- Top Tech Stocks
MSFT +0.3%
AAPL +0.2%
IBM -0.05%
CSCO -0.7%
GOOG +0.1%
Tech stocks are slightly higher today with the S&P Technology Index gaining around 0.3%.
In company news, DTS Inc. (DTSI) shares are down over 17% and have hit new year lows today after the software company reduced its Q2 revenue forecasts, citing macroeconomic factors affecting certain segments of the consumer electronics industry, particularly in the company's Blu-ray market.
Overall, the company now sees revenues for the June quarter to be in a range of $21 million to $22 million, trailing the analyst consensus expecting $24.3 million in revenue.
DTSI also said earnings will be hurt by costs associated with its upcoming acquisition of SRS Labs Inc. (SRSL) as well as by the tax consequences of the lower revenue during the quarter and the non-deductibility of certain material acquisition-related expenses.
In other sector news,
(+) ADSK, (+1.2%) Announces deal to acquire Socialcam - a popular mobile social video capture, editing and sharing application - for about $60 million.
(+) DGIT, (+26%) Starting strategic review of operations, including possible sale of the company.
(-) ININ, (-2.1%) Expects Q2 adjusted EPS of break-even to $0.05 a share, under Capital IQ consensus of $0.16 a share. Lowers revenue guidance to $54 million to $55 million, also below forecasts.
(-) ALU, (-18.5%, hit new year lows) Expects Q2 loss of $48.71 million on $4.26 billion in revenues.
(+) TEL, (+0.1%) Guides $0.79 a share Q3 profit, in-line with expectations but revenues seen at $3.5 billion - $90 million under forecasts.
(+) PXLW, (+5%, near year highs) Begins production shipments of its Topaz SoC family of display processors to tier one customers.
(+) MSFT, (+0.4%) EU regulators reportedly investigating if company is complying with 2009 order to offer users a choice of web browsers.
(+/-) TSCC, (0.0%) Buying back $11 million of stock from Aspire Capital Fund.
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