Tech Stocks Holding Small Gains; JA Solar Shines Following Supply Pact With Shanghai CSET

By Staff,

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Top Tech Stocks

MSFT -0.44%

AAPL -0.44%

IBM +1.58%

CSCO -0.34%

GOOG -0.13%

Technology stocks are narrowly higher, with shares of technology companies in the S&P 500 climbing 0.1% in afternoon trade.

In company news, American depository receipts of JA Solar Holdings Co. Ltd. ( JASO ) are up 11.7% at $12.26 apiece, earlier climbing to a new 52-week high of $12.04 after signing a pair of agreements to supply 70 megawatts of high-efficiency polycrystalline solar modules to Shanghai CSET Co. Ltd., a photovoltaic system integrator in China.

Under terms of the deals, JASO will deliver 20 megawatts of modules next month with the remaining 50 megawatts to be delivered before March 31, 2014.

In other sector news,

(+) GOGO, (+27.4%) Net loss widens from year-ago to $0.22 per share but still beats analyst forecasts by $0.09. Revenue for the in-flight wi-fi service provider rises 48% year over year to $85.4 mln, topping estimates by $8.56 mln.

(-) CRUS, (-13.3%) Barclays issues research note saying Apple ( AAPL ) has stopped using the company's amplifers in its iPad Air tablets, eliminating as much as $40 mln in yearly revenue. Also, CEO Jason Rhode last week sells more than 100,000 of his CRUS shares.

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: AAPL , JASO

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