Sector Update: Technology

By Staff,

Shutterstock photo

Technology shares are higher in pre-bell trading. Cogo Group ( COGO ) shares are up more than 14% pre-market after the Chinese technology company said a plan to sell about 30% of its assets to founder and CEO Jeffrey Kang for about $80 million is "progressing smoothly."

The company's Audit Committee has signed a letter of intent relating to the sale Kang's wholly owned company. Kang expects the transaction to close before the end of the year.

And Hanwha SolarOne ( HSOL ) is down 11% at $3.52 after it said its Q2 loss narrowed to $0.32 per American depository share from a loss of $0.43 in Q1. The Non-GAAP net loss per ADS was $0.25 compared to the average Capital IQ estimate for a loss of $0.32. Total revenues were at 192.7 million compared to $179.2 million in Q1.

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: COGO , HSOL

More from MT Newswires


MT Newswires

MT Newswires

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by