Top Tech Stocks
Technology stocks were advancing Monday, with shares of tech companies in the S&P 500 adding over 0.9% in value while the Philadelphia semiconductor index was posting a nearly 0.4% gain.
Among technology stocks moving on news:
+ China Information Technology ( CNIT ) was almost 3% higher in Monday mid-day trading, staying near its session high, after the internet-based ad display terminal company said it has received a $1.6 million follow-on contract from Anhui Taoping culture and Media for 5,000 of its cloud-based elevator ad terminals throughout Anhui province in China. CNIT chief executive Jianghuai Lin also said the company is expecting to sell another 120,000 terminals throughout China by the end of the year, reaching an estimated 200 million people in 100 cities.
In other sector news:
+ iPass ( IPAS ) rose over 5% on Monday after the global mobile connectivity company announced a seven-figure deal with Lycamobile, providing global Wi-Fi to the mobile virtual network's monthly plan customers through a white-labelled version of its iPass SmartConnect.
- Qualcomm ( QCOM ) was declining Monday following reports the chipmaker will need to refile an antitrust application with Chinese regulators for its proposed $44 billion takeover of NXP Semiconductors ( NXPI ). Qualcomm withdrew its previous application on Saturday following a request from China's commerce ministry, sources said.
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