Technology stocks are moderately higher with shares of
technology companies in the S&P 500 climbing 0.4%.
In sector news, Integrated Silicon Solution (
) is up more than 1% at $11.34 a share, reversing early declines
that followed the semiconductor firm saying GSI Technology (
) accused it and United Memories of anticompetitive actions winning
an DRAM-chip order from Cisco Systems (
The complaint initially was filed against privately held United
Memory alone and was later amended to include ISSI. The court
recently denied GSIT's request for a temporarily injunction against
the firms, ruling GSIT had not shown the design database contained
any of its proprietary information.
According to the ruling denying an injunction, the court wrote
that CSCO told GSIT it lost out to ISSI and United Memory because
it "lacked experience in DRAM," later explaining CSCO choice
appeared to have "more to do with GSIT's shortcomings rather than"
ISSi's partnership with United Memory.
GSIT also is higher today, rising 1.3% to a 52 week high of
$7.40 a share while CSCO was off 0.1% at $23.25 a share.
In other sector news,
(+) PRFT, (+2.8%, hit fresh 52 week highs) Acquires CoreMatrix
Systems, a consulting firm specializing in cloud computing services
and solutions, for $21.5 million, plus $10 million in contingency
fees subject to certain financial achievements.
(-) CTL, (-1.5%) Connects its first customer with its dedicated
100-gigabit per second data-networking circuit.
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