Hot MOvers: International Business Machines Corp. (NYSE:IBM), Cisco Systems (NASDAQ:CSCO), Weibo Corp (NASDAQ:WB), Trina Solar (NYSE:TSL), Suntech Power (OTCMKTS:STPFQ)

Technology Stocks News 2

International Business Machines Corp. (NYSE:IBM) is nearing a deal with Globalfoundries for its chip-manufacturing business, according to people familiar with the matter, after searching for a buyer for the money-losing unit since last year. International Business Machines Corp. (NYSE:IBM) stock performance was -1.11% in last session and finished the day at $182.25. Traded volume was 4.07million shares in the last session and the average volume of the stock remained 4.75million shares. The beta of the stock remained 0.72. International Business Machines Corp. (NYSE:IBM) insider ownership is 0.10%.

Cisco Systems, Inc. (NASDAQ:CSCO) expects more than 10 billion mobile Internet-connected devices by 2016, including machine-to-machine (M2M) modules. Gartner sees the Internet of Things (IoT) reaching 26 billion installed units by 2020. Cisco Systems, Inc. (NASDAQ:CSCO) rose 0.16 percent to $25.04 Wednesday on volume of 36.17million shares. The intra-day range of the stock was $24.79 to $25.17. Cisco Systems, Inc. (NASDAQ:CSCO) has a market capitalization of $128.10billion.

Credit Suisse began coverage on shares of Weibo Corp (ADR) (NYSE:WB) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm issued an outperform rating and a $23.00 price objective on the stock. Weibo Corp (ADR) (NASDAQ:WB)’s stock on June 11, 2014 reported a increase of 2.70% to the closing price of $19.42. Its fifty two weeks range is $16.26 -$24.48. The total market capitalization recorded $6.19billion. The overall volume in the last trading session was 1.06million shares. In its share capital, WB has 202.68million outstanding shares.

Trina Solar Ltd. (ADR) (NYSE:TSL) announced that it closed the offering of US$150 million in aggregate principal amount of convertible senior notes due 2019 (the “Notes”) (the “Notes Offering”). Trina Solar received aggregate net proceeds of approximately US$146.3 million after deducting discounts and commissions but before offering expenses from the Note Offering. On Wednesday, shares of Trina Solar Limited (ADR) (NYSE:TSL) advanced 0.71% to close the day at $11.30. Company return on investment (ROI) is -1.40% and its monthly performance is recorded as -2.84%. Trina Solar Limited (ADR) (NYSE:TSL) quarterly revenue growth is -30.16%.

Despite syndicated lending in China plunging by 42% year-on-year (falling to $9.3 billion so far in 2014 – the lowest level at this stage of the year since $9 billion was loaned in 2010), LDK’s lifeline is being viewed as a concerted effort by the company and the government to ward off the fate that befell Suntech Power Holdings Co., Ltd. (ADR) (OTCMKTS:STPFQ) which in March last year entered bankruptcy proceedings after defaulting on a $541 million bond. Since then, the company has been restructured as Wuxi Suntech after Shunfeng Photovoltaic won the bid to acquire the company. Suntech Power Holdings Co., Ltd. (ADR) (OTCMKTS:STPFQ) stock performance was 13.16% in last session and finished the day at $0.430. Traded volume was 899,931.00million shares in the last session. The beta of the stock remained 2.70.

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