Tech Biz Cheat Sheet: Stocks Up 3.32%, Sony and Solar in Focus
Sony Corp. (NYSE:SNE) will buy out partner Ericsson (NASDAQ:ERIC) ‘s 50 percent in Sony Ericsson for EUR $1.05 billion ($1.47 billion). The companies have also signed an agreement that will give Sony a wide ranging cross-licensing agreement and ownership of “five essential patent families.”
Research In Motion (NASDAQ:RIMM) has two consumer lawsuits filed against it from the recent four-day BlackBerry disruption. One suit was filed by U.S. citizens in federal court while the second one comes from disgruntled Canadians who filed suit in Quebec Superior Court. This adds to the company’s bad week: On Wednesday, RIMM announced the delay of its BlackBerry Playbook 2.0 operating system until February 2012.
Sprint’s (NYSE:S) CEO Dan Hesse paid an underhanded compliment to Apple (NASDAQ:AAPL) by saying that because the iPhone is so data-efficient, it will help Sprint keep its mobile data plans unlimited–a huge selling point for the company. Hesse explained that because iPhones have less data traffic than Android (NASDAQ:GOOG) device, it limits the data usage for background apps. One research firm disagrees and believes it leads to high subsidies for the iPhone.
Akamai Technologies, Inc’s (NASDAQ:AKAM) third quarter earnings report beat estimates and saw its stock price take off. The company’s fourth quarter guidance is in-line and sector rivals Level 3 Communications Inc. (NASDAQ:LVLT) and Limelight (NASDAQ:LLNW) joined in the celebration with increasing stock prices. One analyst remained cautious about the company, pointing out its decelerating revenue growth and increased competition.
Solar stocks (NYSE:KWT) are rising from increased risk trading and the announcement that Germany will cut a record-breaking amount of photovoltaic power next year. Sector winners from the news include: LDK Solar Co. Ltd (NYSE:LDK), Suntech Power Holdings Co. Ltd. (NYSE:STP), First Solar, Inc. (NASDAQ:FSLR) and Yingli Green Energy Holding Company, Ltd (NYSE:YGE).