Sector Update: Technology


Technology stocks are little changed with shares of technology companies in the S&P 500 down less than 0.1%.

In company news, Spherix ( SPEX ) is up more than 116% at $21.50 a share after a North South Holdings subsidiary - Guidance IP LLC - filed a complaint against T-Mobile USA Inc. ( TMUS ), alleging patent infringement of geolocation technology used on cell phones.

SPEX in April moved to acquire 222 patents from North South through a merger with North South's Nuta Technology subsidiary, with plans to add several new lines of business by commercializing intellectual property assets outside of its traditional drug development activities. The patent portfolio is applicable in law enforcement and military communications, portable electronics, Wi-Fi and microwave and cellular transmission as well as automated pharmacy ordering practices.

The case was filed in U.S. District Court for the Middle District of Florida, the one-time corporate home of Harris Corp., the original owner of Patent No. 5,719,584, System and Method for Determining the Geolocation of a Transmitter.

TMUS is down about 0.9% at $24.51 a share.

In other sector news,

(+) AAPL, (+1.0%) Obama Administration overturns International Trade Commission ban on some older versions of its iPhone and iPad products.

(-) QCOM, (-1.3%) Piper Jaffray downgrade to Neutral from Overweight, citing concerns about falling smartphone demand.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: SPEX , TMUS

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