Tech Stocks Posting Moderate Gains; Wi-Lan Rising After Acquiring Irrigation Technology Patents

By Staff,

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Technology stocks were moderately higher, with shares of technology companies in the S&P 500 gaining about 0.5% in afternoon trade.

In company news, Wi-LAN (WILN, WIN.TO) shares were higher Wednesday after the Canadian company announced a deal for the technology underlying irrigation-control systems, the latest in a growing series of new patent licensing agreements.

The company's shares were up 2% in afternoon trade at $2.96 apiece, matching their high-water mark for the session. The stock also was higher at the Toronto Stock Exchange, climbing 1.6% to C$3.23 a share in recent trade.

WILN said it purchased a patent portfolio already licensed to a third party and that will begin generating revenue for the company beginning with the current quarter. WILN will receive all future revenues generated by existing royalty agreements while sharing revenue from any new licensing agreements with the unidentified vendor.

In a separate transactions earlier this month, WILN last week bought the patent supporting an automotive diagnostics technique along with an April 2 deal for a package of wireless network security patents. Financial terms of either deal were not disclosed but the company said the cost of the automobile-related patent would not have a material impact on its cash position.

The license deal with the undisclosed wireless carrier was part of a broader licensing initiative started at WILN last year, the company said. The patents included in that deal were for a subset of the global portfolio of patents and applications that WILN acquired from Siemens AG ( SI ) related to telecommunication network management and mobile multimedia in July 2012.

In other sector news,

(+) YHOO, (+5.6%) Q1 earnings of $0.38 per share beat by $0.01. Revenue climbs 1.2% over the same quarter last year to $1.09 bln, in-line with estimates. GAAP display revenue was unchanged at $463 mln; search revenue was up 5% to $445 mln.

(-) LLTC, (-3.7%) Q3 revenue climbs 10.6% over year-ago levels to $348 mln but narrowly lags Capital IQ consensus by $2 mln. Non-GAAP EPS of $0.55, excluding $0.07 per share in one-time items, $0.07 better than estimates. Q4 revenue outlook in-line with Street.

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

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

This article appears in: Investing Commodities
Referenced Stocks: SI

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