Stocks Moving Pre-Market: xG Technology, Inc. (NASDAQ:XGTI), Recon Technology (NASDAQ:RCON), Core-Mark Holding (NASDAQ:CORE)



xG Technology, Inc. (NASDAQ:XGTI), a developer of wireless communications and spectrum sharing technologies, has been awarded a U.S. Patent for cognitive radio that will enable high-performance spectrum sharing.

This patent, “Measurement Coordination for Dynamic Spectrum Access Measurements in a Time Division Duplex System”, is an important part of xG Technology, Inc. (NASDAQ:XGTI)’s Dynamic Spectrum Access (DSA) technology. It allows base stations to coordinate their measurements of spectrum usage and jointly determine optimum channels to use for communications.

xG Technology, Inc. (NASDAQ:XGTI) shares are up 8.5% at $1.41 pre-market.

Shares of Recon Technology (NASDAQ:RCON) jumped in Monday’s pre-market session, after the provider of hardware, software and on-site services to petroleum companies in China said its Nanjing Recon Technology division received a three-year renewal on its government certification as a High-Tech Enterprise, thus renewing its preferential income-tax rate of 15% for the three years beginning in 2014.

The preferential income-tax rate is reduced from a rate of 25%, the company noted. Recon also said Nanjing Recon Technology (NASDAQ:RCON) has received two new software copyrights, covering the division’s Recon Process Auto software Version 1.0 and Recon RCNAMT software Version 1.0. Recon expects revenue contributed by these two software products could be 5 million RMB ($820,000) within the first year of commercialization.

“We expect that these developments will both strengthen our intellectual property position in the automated oilfield systems sector, and also have a significant effect on our bottom line for 2014 and beyond,” said Yin Shenping, CEO of Recon Technology. Recon Technology (NASDAQ:RCON) was up 11% at $7 in recent pre-market trading. It has a 52-week range of $1.55 to $8.00.

Core-Mark Holding (NASDAQ:CORE) is down pre-market trading after the company reported mixed financial results for Q4, and issued mixed guidance for fiscal 2014. Shares are down 3.22% at $75.68, with a 52-week range of $45.56 – $79.42.

The marketer of fresh and supply solutions to the convenience retail industry reported Q4 earnings per-share were $1.29 for the fourth quarter of 2013 compared to $0.83 for the same quarter in 2012. Excluding LIFO expenses, earnings were $1.28 per share, compared with the prior-year period’s $0.90 per share. The Capital IQ consensus estimate, which typically excludes one-time items, was for $1.21 per share.

Core-Mark Holding (NASDAQ:CORE)’s revenue was $2.49 million, up 13.8% from $2.19 million in the same quarter last year. Analysts were expecting revenues of $2.53 million. The company expects fiscal 2014 EPS of $4.15 – $4.30, ex one-time items, below the analysts’ estimate of $4.50 EPS. Revenues are anticipate to be $10.4 billion – $10.7 billion, in line with the Street view of $10.67 billion.

 

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