Top Tech Stocks - CTSH, SNIC, QXM
Tech Stocks
Dallas, TX 11/03/2009 04:56 PM GMT (TransWorldNews)
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Cognizant Technology Solutions Corp. (NASDAQ:CTSH) is amongst the top gainers in the early morning trade and soared 7.47% to $41.70 on huge volume of 1.18 million shares after it posted third-quarter results that blew past market expectations, helped by strong growth across all industry sectors and geographies, and raised its outlook for the year. Third-quarter net income has increased to $136.6 million, or 45 cents a share, from $112.8 million, or 38 cents a share, a year earlier. Excluding items, earnings were 48 cents a share. Revenue rose 16 percent to $853.5 million. Analysts expected earnings of 41 cents a share, excluding exceptional items, on revenue of $805.6 million, according to Thomson Reuters. For 2009, the company forecast earnings of $1.88 a share, excluding items, on revenue of at least $3.26 billion. It had earlier forecast earnings of at least $1.80 a share on revenue of at least $3.14 billion. Today the stock also created a new 52-week high at $42.40.
Sonic Solutions (NASDAQ:SNIC) is amongst the top gainers in the early few minutes. The stock has spurted 17.56% and is trading at $6.16 with a huge volume of 261K shares. Today the company reported announced a strategic relationship with Best Buy Co., Inc., that will result in a new Best Buy customer offering in its line-up of digital entertainment products. The new on-demand movie and entertainment service will be powered by Sonic's Roxio CinemaNow and will allow consumers to have access to buy or rent a vast library of premium content. To power this offering, Best Buy has entered into a multi-year agreement in which Best Buy plans to license and deploy Sonic's Roxio CinemaNow technology and services platform to make on-demand digital content delivery a standard feature on connected consumer electronics devices sold throughout U.S. Best Buy retail stores and BestBuy.com.
Qiao Xing Mobile Communication Co., Ltd. (NYSE:QXM) climbed up 12.50% over its previous day’s price and now trades at $4.32 on a huge volume of 401k shares. Today the stock also created a new 52-week high at $4.40. Qiao Xing Mobile Communication Co., Ltd. is a domestic manufacturer of mobile handsets in China. The Company manufactures and sells mobile handsets based primarily on global system for mobile communications (GSM) global cellular technologies.
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