Technology stocks put up sizable gains for a second day in a row Wednesday, with shares of tech companies in the S&P 500 advancing over 0.9% today.
In company news, JinkoSolar (JKS) advanced Wednesday after the photovoltaic panels company today reported Q3 net income and revenue handily exceeding Wall Street expectations and raised its FY16 shipments guidance.
Excluding one-time items, the company earned $1.40 per American depositary share, up from $0.48 per ADS during the year-ago period and breezing past the two-analyst consensus looking for $0.83 per ADS. Revenue grew 39% year over year to $855.3 million, also topping the $758.9 million three-analyst consensus.
For the full year ending next month, JinkoSolar is now looking to ship between 6.6 to 6.7 gigawatts, up from its prior view expecting 6.0 to 6.5 gigawatts. JKS ADS were up more than 6% this afternoon at $14.63 each, backing down from a prior run to $15.15 per ADS.