Top Tech Stocks
Technology stocks are narrowly higher, with shares of technology
companies in the S&P 500 gaining about 0.25%.
In company news, Qualcomm Inc (
) is up 1.2% at $68.89 a share, climbing as high as $69.72 after
directors at the smartphone-components company approved a new $5.0
billion share repurchase program, effective immediately.
The new stock buyback program replaces the company's current
$5.0 billion stock repurchase authorization announced in March,
which still had around $2.3 billion left for buybacks following
QCOM's stock purchases since July 24.
Separately, QCOM said it would be partnering with Paris-listed
Technicolor SA (TCH.PA) to produce a new set-top box featuring LTE
technology, terrestrial broadcast and the Android operating system.
The new SVELTE (Stimulating Video Experience over LTE) portable
media center will use QCOM's Snapdragon 600 processor.
TCH.PA shares closed 2.5% higher overseas.
In other sector news,
(+) P, (+12.5%) Names former Microsoft (
) executive Brian McAndrews as its new chief executive officer. He
replaces Joe Kennedy, who said in March he was leaving the online
(-) SYMC, (-1.1%) Ani-virus software company is cut to
Equalweight from Overweight at Morgan Stanley.
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