Sector Update: Technology

By Staff,

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Technology shares were generally higher in pre-market trade Wednesday.

In technology stocks news, Trina Solar ( TSL ) reported Q1 revenue of $444.8 million, up 70.9% year-over-year and ahead of the analyst consensus of $421.5 million on Capital IQ. Earnings per ADS were $0.37, up from a year ago loss of $0.90 per ADS. The Street view was $0.05 per ADS, if comparable.

In Q2 of 2014 the company expects to ship between 950 MW and 1,010 MW of PV modules, of which 150 MW to 170 MW will be shipped to its downstream PV projects. Revenues will not be recognized for the modules shipped to its own developed projects as required by U.S. GAAP regulations.

And, Netflix ( NFLX ) shares were up more than 1% pre-market after it announced plans to expand in Europe, including in Germany, Austria, Switzerland, France, Belgium and Luxembourg.

NFLX trades in a 52-week range of $205.75 to $458.00.

Finally, Gilat Satellite Networks ( GILT ) shares fell in Wednesday's pre-market session, after the satellite-networking company reported it swung to a Q1 adjusted loss as revenue fell.

GILT was down 5.2% at $4.60 in recent pre-market trading , nearing the low end of its 52-week range of $4.09 to $6.11.

The company posted a Q1 net loss of $2.7 million, or $0.06 per share, compared with a prior-year net loss of $2.4 million, or $0.05 per share.

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 , NFLX , GILT

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