Sector Update: Technology
Technology shares are higher in mid-day trading but Logitech (LOGI) falls after its guidance comes in below Street estimates. In mid-day news, Logitech said late Thursday it expects 2011 sales in the range of $2.35 to $2.37 billion, lower than previous guidance of $2.40 to $2.42 billion and south of the Street view of $2.41 billion. Meanwhile, Xyratex Ltd. (XRTX) is down 12.7% to $9.74, after its 2011 Q2 guidance came in below Street estimates. The provider of data storage and network technology expects to earn up to 6 cents a share in the second quarter, lower than the Street estimate of 27 cents a share.
Credit: Financial News Network
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