Notable tech decliners: JKS, TSL, YGE, LEJU, ONNN, VMEM, TZOO, SSNI
Apr. 17, 2015 3:07 PM ETBy: Eric Jhonsa, SA News Editor
- With the Nasdaq off 1.7% amid a broader market selloff, many tech companies are posting outsized losses, and only a few (excluding microcaps) are posting 2%+ gains.
- Notable decliners include Russian online payments leader Qiwi (QIWI -7.8%), Chinese solar firms JinkoSolar (JKS -5.3%), ReneSola (SOL -8.4%), Trina (TSL -5.1%), and Yingli (YGE -5.2%), Chinese online real estate play Leju (LEJU -7.8%), analog/mixed-signal chipmakers ON Semi (ONNN -5.3%) and InPhi (IPHI -4.7%), enterprise flash storage vendor Violin Memory (VMEM -5.2%), online travel deals platform Travelzoo (TZOO -6.4%), and smart grid hardware/software vendor Silver Spring (SSNI -4.6%).
- Profit-taking appears to be a big culprit in many instances. Qiwi (like other Russian firms) had rallied strongly in recent weeks thanks to the ruble and oil's rallies. Chinese solars have also been early-2015 standouts, and so have ON Semi and Silver Spring; the latter has recently announced deals (I, II) with Paris' street light/traffic control operator and Australian energy firm AusNet. Travelzoo is returning a chunk of yesterday's big post-earnings gains.
- Previously covered: AMD, ServiceNow, cloud/analytics stocks, Etsy, Wayfair
- Notable gainers: Seagate, 58.com, ZBB Energy