Technology stocks are broadly lower this afternoon, with shares
of technology companies in the S&P 500 slumping more than
In company news, Spreadtrum Communications (
) is up 17.3% at $26.15 a share after saying it has received a
non-binding buyout proposal from Tsinghua Holdings Co. Ltd. - a
state-owned limited liability company funded by Tsinghua University
in China -offering $28.50 per American Depositary Share in cash for
the fabless chipmaker.
The estimated $1.38-bln buyout proposal represents a nearly 28%
premium over SPRD's closing price last night of $22.29. SPRD said
its board is reviewing the offer and has not yet made any
In other sector news,
(+) WILN, (+6.8%) Renews long-term license agreement with
Samsung for its patented technology for use in wireless mobile and
networking infrastructure products, adding greater patent scope and
several years to the prior pact. All other terms of the license
agreement are confidential.
(-) ORCL, (-8.6%) Adjusted Q4 EPS of $0.87 matched the analyst
consensus. Revenue was unchanged for the second quarter in a row at
$10.9 bln, missing expectations by $222 mln. The company also said
it would double its quarterly dividend to $0.12 per share,
authorized a $12-bln stock buyback and move its stock listing to
the New York Stock Exchange.
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