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Sector Update: Technology

By: MT Newswires
Posted: 5/28/2014 8:46:00 AM
Referenced Stocks: CSUN

Technology shares were firmly higher in pre-market trade Tuesday.

In technology stocks news, Twitter ( TWTR ) is higher in early pre-market trade after Nomura boosted its rating on the shares to buy from neutral and reiterated its $43 per share price target.

China Sunergy ( CSUN ), a maker of solar cells and modules, plunged more than 11% in pre-market trade after it reported a narrower Q1 net loss as revenue edged up on a jump in shipments.

The company posted a net loss attributable to ordinary shareholders of $14.7 million, or $0.99 per American depositary share, compared with a prior-year net loss of $22.9 million, or $1.71 per ADS.

Excluding one-time items, its loss per ADS amounted to $0.98 per share in the latest quarter, compared with a loss of $1.67 per ADS a year earlier. Analyst estimates weren't available via Capital IQ.