Sector Update: Technology Shares Higher Pre-Market; Trina Solar Lifts 5% on Q4 Results

By Staff,

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Top Technology Stocks:

MSFT: +0.61%

AAPL: +0.72%

IBM: +0.69%

CSCO: +0.60%

GOOG: +1.07%

Technology shares were higher in pre-market trade Tuesday.

In technology stocks news, Trina Solar ( TSL ) was higher nearly 5% in pre-market trade after reporting Q4 earnings that far exceeded analysts' estimates amid lower-than-expected sales.

The China-based solar-power products maker said its Q4 earnings per ADS jumped to $0.13 per share from a loss of $1.23 the year earlier, beating the $0.04 average profit expected by analysts. Sales rose to $525.6 million from $302.7 million a year earlier, but were short of the $543.5 million consensus.

And, PC Tel ( PCTI ) reported that financial results for Q4 were just shy of analysts' expectations.

The provider of propagation and optimization solutions reported Q4 GAAP earnings from continuing operations of $0.02 per share, compared with the prior-year period's $0.41 loss per share. Non-GAAP earnings from continuing operations were $0.12 per share, compared with $0.08 per share in the same period last year.

Analysts polled by Capital IQ were expecting EPS of $0.13.

Finally, China Mobile Games & Entertainment Group ( CMGE ) shares were up more than 5% in pre-market trade Tuesday after the smartphone game maker reported

China Mobile Games & Entnmnt Grp reported Q4 earnings of RMB0.58 (US$0.10), compared with loss per ADS of RMB2.71 in Q4 2012.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: TSL , PCTI , CMGE

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