Gains for chip-makers today were helping technology stocks climb higher on Wednesday, with shares of technology companies in the S&P 500 adding over 0.5%.
In company news, One Horizon Group (OHGI) raced as much as 169% higher Wednesday after the voice over Internet protocol carrier reported more than 3 million downloads since it rolled out its Aishuo smart-phone application two months ago, surpassing internal expectations.
Aishuo debuted in late February, combining advertisements, search engine optimization, press releases, event marketing and promotions with its free One Horizon Sponsored-Call platform.
Looking forward, the company said it is hoping to sign up at least 15 million Aishuo users during its first two years.
OHGI shares were up nearly 112% at $2.30 apiece, backing away from its session high of $2.93 a share. The stock has traded within a range of $1.03 to $4.94 a share since its March 2 move to the Nasdaq Capital Market, dropping about 40% over that scan prior to today’s rebound.
In other sector news,
(+) NVMI, Adjusted Q1 EPS of $0.15 beats Capital IQ consensus by $0.09 per share. Revenue falls 20.7% to $27.5 mln but tops estimates by $1.9 mln. Sees Q2 revenue between $33 mln to $35 mln, exceeding Street view by at least $1.16 mln.
(-) EZCH, Said Cisco (CSCO) currently does not plan to use the company’s NPS-400 chips in its next-generation routers, adding successor to its NPS-5 chips won’t be available for three years. Also, Q1 EPS, revenue top analyst consensus.