Top Tech Stocks
Technology stocks scratched out solid gains on Monday, extending small gains from earlier today and with shares of tech companies in the S&P 500 adding slightly more than 0.7% in value today while the Philadelphia semiconductor index was posting a more than 0.5% gain.
Among technology stocks moving on news:
+ AU Optronics Corp. ( AUO ) rose almost 13% at one point one Monday after the flat-sheet monitor company said its unaudited consolidated sales hit TWD24.83 billion, or about $816.1 million, during June, falling 3.5% from the prior month but topping the year-ago period by 13.1%. Q2 sales rose 0.8% sequentially to TWD75.05 billion, but were off 11.1% compared with the April-to-June reporting period in 2017. Large-sized panels for items such as LCD televisions, desktop monitors, notebook PCs and other applications slipped 2.1% during Q2 from the prior quarter but were 4.2% year-over-year. Shipments of small-and-medium-sized panels were total 45.32 million units, down by 2.7% quarter-over-quarter and rising by 17.3% over Q2 in 2017.
In other sector news:
+ Nano Dimension ( NNDM ) rallied Monday, hanging on to more than a 20% gain, easing from a nearly 36% advance earlier this morning that followed the three-dimensional printed circuit board manufacturer saying it has entered the Chinese market through a distribution agreement with Aurora Group. Under terms of the deal, Aurora Group will market and sell Nano Dimension's DragonFly 2020 Pro 3D printer for electronics to Chinese customers.
+ United Microelectronics ( UMC ) rose over 4% at one point Monday, doubling up the 2% increase in June sales for the Taiwanese semiconductor wafer foundry over the year-ago levels, generating NTD13.36 billion, or about $440.2 million, in sales last month compared with NTD13.10 billion in sales during June 2017.
- American Superconductor ( AMSC ) tumbled Monday, at one point sinking over 9% this morning, despite a federal judge last week issuing a $1.5 million fine and one year of probation against Sinovel Wind Group after the rival company was found guilty of stealing American Semi trade secrets as well as conspiracy to steal trade secrets and wire fraud. Sinovel also also will be required to pay around $52.5 million to American Superconductor in two installments, with the first $32.5 million paid July 4. The remaining $25 million payment is due May 6, 2019, in addition to Sinovel paying $850,000 to other victims during its probation period.