Top Tech Stocks
Technology stocks were mostly higher with shares of technology companies in the S&P 500 climbing almost 0.7%.
In company news, Kandi Technologies ( KNDI ) was gaining Monday after the electric-car manufacturer reported huge jumps in Q2 adjusted earnings and revenue compared to year-ago levels.
The Chinese company earlier today reported non-GAAP earnings of $3.22 million, or $0.08 per share, up from a $73,785 adjusted profit during the same quarter last year. Revenue grew 171.1% year-over-year to $32.96 million.
No analyst estimates were available for comparison.
According to the company, revenue from electric vehicles grew 552.1% from the year-ago quarter to $13.25 million. Its joint venture sold 4,114 electric vehicles during the quarter, up from 1,215 during Q1.
KNDI shares recently were up about 5.2% at $19.53 apiece, earlier topping out today at $20.53 a share. The stock has traded within a 52-week range of $4.12 to $22.49 a share, posting a three-fold increase over the past 12 months, rising 301.6%.
In other sector news,
(+) PRKR, (+3.1%) Reaches confidential settlement with three shareholders in legal fight dating to late 2011. The settlement will not have a material impact on the company's financial position or operations.
(-) GOGO, (-6.1%) Says FY14 EBITDA will be "toward the low end" of its $8 mln to $18 mln forecast range due to increased spending for Supplemental Type Certificates for international service.
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