U.S. markets closed just shy of record highs Monday. The S&P 500 Index closed at 1,847.61, an increase of 0.62 percent, just short of its intraday high of 1,858.71. "There's still a lot of hope right now (that) the slightly weaker (economic) numbers we've been seeing are weather- related," said Bryant Evans, a portfolio manager for Cozad Asset Management. Gains by the tech sector helped push the Nasdaq Composite Index to a 14-year high in midday trading before settling to close at 4,292.97, an increase of 0.69 percent. Here is how some tech stocks reacted Monday:
GT Advanced Technologies Inc. (NASDAQ: GTAT) shares traded in the range of $12.84 to $14.32 Monday before settling to close at $14.14, an increase of 16.76 percent. The stock appears to have some support at the $12.80, $11.91 and $10.65 levels. The company reported a loss of $0.26 a share for the fourth quarter of 2013, topping analysts’ estimates of a loss of $0.36 a share. Shares of GT Advanced Technologies have gained approximately 60.0 percent year-to-date.
More information on GT Advanced Technologies and access to the free equity report can be found at:
www.WallStreetFundamentals.com/GTAT
InfoSonics Corporation (NASDAQ: IFON) shares traded in the range of $3.19 to $3.56 Monday before settling to close at $3.39, an increase of 8.65 percent. The stock appears to be facing some resistance at the $3.60 and $4.26 levels with some support at $3.12 and $2.93. The company recently expanded its product line with the verykool® T742 tablet. Shares of InfoSonics have gained approximately 120.0 percent year-to-date.
More information on InfoSonics and access to the free equity report can be found at:
www.WallStreetFundamentals.com/IFON
Kandi Technologies Group Inc. (NASDAQ: KNDI) shares traded in the range of $13.50 to $15.80 Monday before settling to close at $15.56, an increase of 16.47 percent. The stock appears to have some support at the $15.00, $14.03 and $13.61 levels. The company announced plans to expand its electric car rental service to Beijing and Shanghai. Shares of Kandi Technologies have gained approximately 30.0 percent year-to-date.
More information on Kandi Technologies and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KNDI
RF Micro Devices, Inc. (NASDAQ: RFMD) shares traded in the range of $6.44 to $7.08 Monday before settling to close at $7.03, an increase of 21.0 percent. The stock appears to have some support at the $6.44, $6.16 and $6.08 levels. The company announced that it has agreed to merge with TriQuint Semiconductor, Inc. to create a new company. Shares of RF Micro Devices have gained approximately 36.0 percent year-to-date.
More information on RF Micro Devices and access to the free equity report can be found at:
www.WallStreetFundamentals.com/RFMD
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