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Sector Update: Tech Stocks Still Adding to Earlier Gains; Netlist Slammed After Q2 Net Loss Grows, Lagging Street View

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Technology stocks continued to add to their earlier gains, ending broadly higher this afternoon with shares of technology companies in the S&P 500 rising about 1.2%.

In company news, Netlist ( NLST ) shares fell Wednesday after the memory chip-maker late yesterday reported a wider Q2 net loss compared with year-ago levels, also trailing analyst estimates for the three months ended June 30.

The company reported a net loss of $3.5 million, or $0.08 per share, expanding on a $2.9 million loss last year and trailing the Capital IQ consensus by $0.03 per share.

Revenue declined about 4.1% year over year to $4.9 million, lagging estimates by around $2.1 million.

NLST shares were off about 17.3% at $1.05 each shortly before Wednesday's closing bell, matching their session low. Despite today's declines, the stock has risen slightly more than 18% over the past 12 months.

In other sector news,

(+) CSIQ, Earns $55.8 million, or $0.95 per share, during Q2, reversing year-ago $12.6 million net loss last year. Adjusted EPS of $0.56 beats by $0.37 per share. . Revenue jumped 64% to $623.8 mln, topping estimates by $46.15 mln.

(-) KING, Tumbles to post-IPO low after lowering its FY14 outlook, with bookings for the current quarter seen declining sequentially from Q2 levels. Q2 sales also trail analyst projections by around $14.35 million, coming in at $594 million.

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

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

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