Tech Stocks Drifting Little Changed; JinkoSolar Hits New 52-Week High After Crushing Q3 EPS Expectations

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Top Tech Stocks

MSFT -1.21%

AAPL -0.27%


IBM +0.85%

CSCO +0.12%

GOOG +0.90%

Technology stocks are little changed, with shares of technology companies in the S&P 500 down less than 0.1% in afternoon trade.

In company news, JinkoSolar Holding Co. Ltd. ( JKS ) is up 16% at $34.20 a share, earlier climbing to a new 52-week high of $34.20 a share after the maker of solar equipment reported a quarterly profit of $1.44 per share, swamping estimates of $0.45.

Revenue rose 48% year over year to $320.7 million, also topping the consensus view by around $18.7 million.

JKS also raised its order forecast for Q4 and FY13 by 200 megawatts, now expecting Q4 module shipments in a range of 500 to 530 megawatts and 1.7 to 1.8 gigawatts. The company is expecting to have between 210 to 230 megawatts of solar photovoltaic projects operating by the end of the year.

In other sector news,

(+) ATRM, (+5.9%) Promotes Daniel M. Koch to CEO, president from his current role as vice president for marketing. Koch and Chief Financial Officer Paul H. Askegaard also were named to the company's board of directors, effective Nov. 15.

(-) IGT, (-3.9%) Hikes quarterly dividend by 10% to $0.11 per share, payable Jan. 3 to shareholders of record on Dec. 20. The 1-cent increase marks the fifth consecutive quarter IGT has boosted its dividend, now up 57% over the last 12 months.



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

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This article appears in: Investing , Commodities

Referenced Stocks: JKS

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