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Technology Sector Update for 10/01/2015: SNE,IDCC,ACTS,FSL

Top Tech Stocks

MSFT -0.84%

AAPL -1.95%

IBM -2.08%

CSCO -2.44%

GOOG -0.53%

Technology stocks were broadly lower, with shares of technology companies in the S&P 500 posting a 1.2% retreat.

In company news, Sony Corp ( SNE ) shares edged higher Thursday after the consumer electronics company said it was expanding its Convida Wireless joint venture to include 5G capabilities through a new patent licensing pact with Interdigital Inc. ( IDCC ).

Convida Wireless launched in 2013 and combines Sony's commercial expertise with InterDigital's Internet of Things technologies. The joint venture also includes Stephens Capital Partners LLC, the investment arm of Stephens Inc.

SNE shares were up about 0.3% at $24.58 apiece, backing down from an earlier session of $24.86 a share.

IDCC shares were down more than 1% at $50.00 apiece this afternoon, giving back an initial run to $50.81 a share.

In other sector news,

(+) ACTS, (+14.1%) Said its tender offer to repurchase up to 84 mln American depository shares of its common stock will be fully subscribed at $2.30 per ADS, according to preliminary results announced last night.

(-) FSL, (-3.9%) Analog MC33907 and MC33908 system-basis chips receive ISO 26262 functional safety assessments up to the ASIL D level from an automotive safety assessment organizations.

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

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