Markets

Technology Sector Update for 12/21/2015: ERIC,AAPL,NTWK,ESLT

Top Tech Stocks

MSFT +0.98%

AAPL +0.98%

IBM -0.14%

CSCO +1.10%

GOOG +0.67%

Technology stocks were trading near their session highs this afternoon, with shares of tech companies in the S&P 500 adding around 0.7% in recent trading.

In company news, Ericsson ( ERIC ) rose Monday after the mobile networking equipment company resolved its legal fight with Apple Inc ( AAPL ) through a new patent licensing agreement with the tech giant.

Specific terms of the agreement were not disclosed but Ericsson said Apple will make an upfront payment as well as ongoing royalties over the seven-year term of the initial pact. Ericsson on Monday estimated overall revenue from intellectual property rights in 2015 would rise to 13 to 14 billion crowns ($1.52 billion to $1.64 billion) up from 9.9 billion in 2014 as a result of the agreement.

The companies also will collaborate on future technologies, including 5G development, video network traffic management and wireless network optimization, Ericcson said in a new release this morning.

ERIC shares were up almost 4% at $9.47 each, easing from an earlier run to $9.79 a share. AAPL also was higher today, rising about 1% to $107.15 a share in choppy trade, recovering from several mid-morning dips as low as $105.57 a share today.

In other sector news,

(+) NTWK, (+27.2%) Signs contract valued above $100 mln, including license, maintenance, services and expected customization with an unnamed long-standing customer.

(-) ESLT, (-0.7%) Announces non-material contract to supply RUAG Defence with its CYBERBIT's CyberShield trainer and simulator.

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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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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