Technology Sector Review: Core vs. Apple, Microsoft’s Next CEO

Vocus, Inc. (NASDAQ:VOCS): Vocus disclosed last night that it entered into a merger agreement with iContact’s equityholders pursuant to which the company will merge with and into iContact. Under the terms of the deal, Vocus acquired iContact for approximately $91M of cash, $9M of common stock and $79M of redeemable convertible preferred stock, aggregating $169M of total consideration, net of $10M cash acquired.

The shares closed at $13.53, down $9.02, or 40%, on the day. Its market capitalization is $270.71 million.

Spreadtrum Communications (NASDAQ:SPRD): Reports Q4 revenue $192.2, consensus $190.73M.

The shares closed at $13.88, down $3.09, or 18.2%, on the day. Its market capitalization is $647.88 million.

Apple Inc. (NASDAQ:AAPL): Core Wireless Licensing announced that it has initiated patent infringement litigation against Apple in the United States District Court for the Eastern District of Texas, Tyler Division. Core Wireless alleges that wireless communications devices sold by Apple, including the Apple iPad and iPad2, and Apple’s iPhone 3G, 3GS, 4 and 4S models, practice a variety of technologies covered by standards essential patents owned by Core Wireless. Core Wireless is seeking judgment that the patents have been and/or continue to be infringed, enhanced damages, mandatory future royalties on current and future Apple products that infringe the patents-in-suit, and other remedies.

The shares closed at $542.44, up $7.03, or 1.31%, on the day. Its market capitalization is $505.75 billion.

Microsoft Corporation (NASDAQ:MSFT): With Microsoft (NASDAQ:MSFT) set to deliver the first consumer preview of Windows 8, it is becoming increasingly evident that Steven Sinofsky will be the next CEO of the company, according to Business Insider.

The shares closed at $31.74, down $0.13, or 0.41%, on the day. Its market capitalization is $266.32 billion.

Intel Corporation (NASDAQ:INTC): On February 24, it was reported that Google (NASDAQ:GOOG) plans to sell the 29,411,765 shares of Class A Common Stock of Clearwire (NASDAQ:CLWR) it holds (NYSE:A) to the other Reporting Persons and/or the Intel (NASDAQ:INTC) Entity A, Intel Entity B, Intel Entity C, Intel Capital, Intel Cayman, and Middlefield pursuant to Section 3.3 of the Equityholders’ Agreement or (NYSE:B) if the Reporting Persons or the Intel Entity A, Intel Entity B, Intel Entity C, Intel Capital, Intel Cayman, and Middlefield do not elect to purchase all of such shares within the specified time period, in one or more public open market transactions on the NASDAQ Stock Market. It was further reported that to the extent that such sales are conducted by means of one or more public open market transactions, such sales will be made beginning on or about February 27 in such amounts and over such time period as determined by Google and in compliance with all applicable securities laws. Intel does not directly own any shares of Class A Common Stock of Clearwire. As of February 29, by reason of the provisions of Rule 13d-3 under the Act, Intel is deemed to beneficially own and to share voting and investment power with respect to 94,076,878 shares of Class A Common Stock that are beneficially owned.

The shares closed at $26.88, down $0.36, or 1.32%, on the day. Its market capitalization is $134.29 billion.

Hewlett-Packard Company (NYSE:HPQ): Due to the supply disruptions caused by flooding in Thailand, International Business Machines (NYSE:IBM) and Hewlett-Packard Co. (NYSE:HPQ) gave up some server market share to Dell (NASDAQ:DELL) in Q4, Gartner (NYSE:IT) said, according to Bloomberg.

The shares closed at $25.31, down $0.87, or 3.32%, on the day. Its market capitalization is $50.22 billion.

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To contact the reporter on this story: Stella Mariz at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com