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Tech Stocks Rally in Big Rebound; Oracle Prevails Over Google in Copyright Spat

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Technology stocks were adding to earlier gains with shares of technology companies in the S&P 500 climbing nearly 1.3% as a group.

In company news, Oracle ( ORCL ) rose to its best stock price in over 13 years Monday, topping $42 a share after a Federal appeals panel late Friday reversed a lower court decision, ruling Google ( GOOG ) infringed ORCL copyrights for its Java software technology 37 times.

During the case, ORCL has alleged GOOG's Android mobile operating system infringed copyrights associated with Java, which ORCL acquired in its 2010 buyout of Sun Microsystems Inc. GOOG argued functional technologies don't deserve the same type of copyright protections as novels and other creative works.

ORCL shares were ahead 2.5% at $42.07 each shortly before the closing bell, earlier rising to $42.14 - matching some of its best levels since September 2000. GOOG recently was up 2.1% at $529.55 a share.

In other sector news,

(+) KNDI, Q1 revenue almost triples over year-ago levels, rising 174.0% to $40.2 mln. Non-GAAP net income grows 30.4% to $1.6 mln, while GAAP net loss was $14.1 mln, or $0.36 per share, reversing a $2.2 mln profit last year.

(-) NTAP, Reduced to Market Perform from Outperform at Raymond James. No price target information was available.

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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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