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1:18pm - "Google set to buy Interdigital..."
Sector Update: Technology 07/21 01:18 PM
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01:18 PM EDT, 07/21/2011 (MidnightTrader) -- Technology shares are mixed in mid-day trading while shares of Google (GOOG:$607.386,0$12.036,02.02%) are up 1.29% on news the internet search giant is set to buy U.S. wireless chip technology company InterDigital (IDCC) to boost its patent portfolio. The Dow Jones U.S. Technology Index is up 0.01%, to 691.40. In mid-day news, shares of Google (GOOG:$607.386,0$12.036,02.02%) are up 1.29% to $603.00 after the company is reported to be looking into buying InterDigital, which has a market value of $3.11 billion and 2010 revenues of $395 million, according to the Wall Street Journal. InterDigital had said earlier this week its board was evaluating strategic alternatives. Shares of InterDigital are up 7.66% to $73.93 in mid-day trading. Shares of Microvision (MVIS:$1.21,00$-0.01,00-0.82%) are up 0.82%, to trade at $1.23, after the imaging engine company beat expectations on Q2 EPS of 9 cents, vs. the consensus for 8 cents. Q2 revenue was more or less in line with estimates, at $1.2 million vs. consensus $1.21 million.
"The world is a dangerous place to live�not because of the people who are evil, but because of the people who don't do anything about it." �Albert Einstein
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