Tech: Netflix Inc Extends Gain (FSLR, NFLX, GLUU, FFIV, VRNG)
First Solar Inc (NASDAQ:FSLR) augmented 2.99% to $2.94 on a traded volume of 2.21 million shares. First Solar Inc, Kiran Energy Solar Power Pvt Ltd and Mahindra Solar One Pvt Ltd have completed a supply agreement in which FSLR’s advanced, thin-film solar modules for two solar photovoltaic power plants totaling 50 megawatts DC will be constructed in India’s Rajasthan state.
Avian Securities LLC lowered the rating on the stock due to the problems related to the junction box on some of First Solar’s panels could potentially cause electrical shock or fire.
Netflix Inc (NASDAQ:NFLX) jumped up 10.50% to $73.60 on a traded volume of 7.10 million shares. The stock went up after Citigroup Inc analyst said the video- subscription service has improved its customer satisfaction. Netflix has improved with customer-satisfaction issues since increasing prices in 2011 for users who both stream videos and get DVDs by mail and an attempt that year to separate those offerings.
Glu Mobile Inc (NASDAQ:GLUU) increased 3.75% to $4.15 on a traded volume of 1.28 million shares. Glu Mobile Inc announced that the Company has entered into a strategic relationship with Probability PLC for mobile gambling. Probability will leverage successful, existing Glu original IP to create a suite of Glu-branded mobile slot games.
F5 Networks Inc (NASDAQ:FFIV) went up 1.06% to $104.53 on a traded volume of 876k shares. Barclays lowered the rating on the stock to neutral from overweight in a report. The firm said that the outlook for corporate and federal government spending remains weak for networking gear makers.
Vringo Inc (NYSEAMEX: VRNG) soared 18.28% to $5.37 on a traded volume of 13.74 million shares. The Company has entered into subscription agreement for the sale of about 10.35 million shares in a registered direct offering at a price of $4.35 per share. The gross proceeds will be around $45 million. The shares were offered directly to five existing institutional investors without a placement agent or underwriter.
The Company has filed a lawsuit against ZTE Corp’s U.K. unit for alleged infringement of its patents for handsets, base stations and base station controllers.