Stocks Bounding Upward on Monday: FTD (NASDAQ:FTD), Highpower International (NASDAQ:HPJ), Tesla (NASDAQ:TSLA)

Technology Stocks News 14

FTD (NASDAQ:FTD) gains nearly 5% Monday, subject of a largely favorable Barron’s weekly article ahead of the online florist’s earnings report this week.

FTD was spun off from United Online in November and its shares have barely moved since.

Barron’s thinks Wall Street is overlooking the company’s solid balance sheet, with net debt of $191 million, or 25% of total capitalization.   Barron’s says FTD could easily institute a large share buyback or a dividend. In fact, management might offer more details on its intentions during its earnings call this week.

Given its strong free cash flow generation and dominant market position, FTD (NASDAQ:FTD) also could be an attractive target for a private-equity firm, as it was before. Even without a buyout, FTD (NASDAQ:FTD) shares are likely to flourish, Barron’s says. Increased sell-side coverage would also bring in more investors. Currently no major Wall Street firm covers the company.

FTD (NASDAQ:FTD) is up nearly 5% Monday afternoon at $32.49 and moves in a 52-week range of $29.02 to $36.99

Shares of Highpower International (NASDAQ:HPJ) continue their meteoric rise on Monday, gaining another 14% to a new 4-year high after the company said last Tuesday that Huizhou Yipeng Energy Tech placed an order with Highpower International (NASDAQ:HPJ) for large format lithium batteries. Yipeng will use the batteries in the electric buses it services. Since Tuesday’s announcement, shares of Highpower International (NASDAQ:HPJ) HPJ have nearly doubled.

The demand for lithium batteries in China and Tesla (NASDAQ:TSLA) is also underpinning HPJ stock at a time when the price of fuel continues to rise. Highpower International currently has a factory in China similar to what  Tesla (NASDAQ:TSLA)  CEO Elon Musk hopes to build, fueling speculation of a collaboration between the two.

Share of HPJ last traded at $5.93 with a new 52-week range of $0.92 to $6.22.

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