Top Tech Stocks
Technology stocks were mostly lower during Thursday trading, with shares of tech companies in the S&P 500 recording a 0.6% retreat.
In company news, ACI Worldwide ( ACIW ) advanced Thursday after the electronic-payments software company today said it settled a licensing dispute with a major credit card provider and also reported significantly improved Q4 financial results compared with the same quarter last year.
Net income for the three months ended Dec. 31 rose to $0.57 per share from a $0.40 per share profit during the prior-year period. Analysts, on average, were expecting a $0.01 per share net loss, although it was not clear if the numbers were fully comparable.
Total revenues grew 11% over year-ago levels to $342.7 million, also topping the $233.7 million Street estimate.
For FY17, ACI Worldwide is projecting revenue in a range of $1 billion to $1.03 billion, bridging the analyst mean expecting $1.02 billion in revenue this year.
Separately, the company today also said it has reached a settlement with MasterCard ( MA ) in their dispute over ACI Worldwide’s sale of a perpetual license relating components of NET24-XPNET middleware to the credit card company. Terms of the settlement were not disclosed.
ACIW shares were up just over 12% at $22.08 each, easing from their recent session high of $22.33 a share.
In other sector news,
(+) AMRC, (+16.4%) Adjusted Q4 EPS of $0.08 beats by $0.05 per share. Revenue rises 0.2% to $174.2 mln, topping the $171.93 mln consensus. Expects adjusted FY17 EPS of $0.37 to $0.43, exceeding the $0.30 per share single-analyst call. Authorizes additional $5 mln for stock buybacks to $15 mln.
(-) AXTI, (-8.3%) Prices $30 mln public offering of over 4.6 mln shares at $6.50 apiece, a 13.3% discount to Wednesday’s closing price.
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