Top Tech Stocks
Technology stocks slumped Friday as the rest of the market tumbled. At last look, the shares of tech companies in the S&P 500 were falling 0.4% in recent trade while the Philadelphia Semiconductor Index was posting a 1.3% loss.
Among technology stocks moving on news:
Finjan Holdings (FNJN) was hanging on to a narrow gain this afternoon after the cybersecurity company said it has settled its patent dispute with privately held rival BitDefender. Under terms of the agreement, BitDefender gains a fully paid-up license in exchange for mutual releases and covenants not to sue the other software firm.
In other sector news:
(+) Broadcom (AVGO) rose 1% after the specialty chipmaker late Thursday announced two new work agreements to supply Apple (AAPL) with wireless components and modules through mid-2023. The new contracts, together with work remaining on a June 2019 supply agreement with the iPhone maker, could generate up to $15 billion in future revenue, according to Broadcom.
(-) Ericsson (ERIC) fell more than 7% after saying it was projecting “somewhat higher operating expenses” during 2020, although the networking equipment company said it does not see those costs jeopardizing its financial targets this year.
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