Top Tech Stocks
Technology stocks were slightly lower Wednesday with shares of
technology companies in the S&P 500 retreating 0.2%.
In company news, Rambus (
) climbed to a new 52-week high Wednesday following the digital
memory company raising its Q2 outlook for revenue after signing a
comprehensive license agreement with Qualcomm (
) for its CryptoManager Security solution.
The new pact calls on QCOM licensing the CryptoManager security
and feature management platform developed by RMBS' Cryptography
Research division and will provide the smartphone components
company with an advanced key provisioning hardware solution for its
circuit systems on a chip technology.
Looking forward, RMBS boosted its revenue outlook by $6 million
to a new range of $75 million to $77 million, beating the Capital
IQ consensus by at least $3.16 million. It also reiterated its
forecast for FY14 revenue.
RMBS shares were up 5.1% at $12.99 apiece in late trade after
earlier climbing to a session high of $13.35 a share. QCOM shares
were little changed near the bell at $79.21 each, up 3 cents.
In other sector news,
(+) SYNA, Acquires Renesas SP Drivers for $475 mln and raises Q4
revenue outlook by $25 mln to a new range of $300 mln to $310 mln,
topping analyst projections by at least $14.05 mln. Also issue
upside revenue guidance for FY14.
(-) JCOM, Announces plans for a $300 mln offering of convertible
senior notes due 2029. Net proceeds will be used, after first
paying offering expenses, for general corporate purposes, including
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