Technology Sector Review: InterDigital Cancels, Nokia’s Fine

InterDigital, Inc. (NASDAQ:IDCC) yesterday confirmed that it has canceled its planned sale of patents, according to the New York Times, which cited a statement by the company’s chairman.

The shares closed at $35.89, down $8.56, or 19.26%, on the day. Its market capitalization is $1.63 billion.

Nokia Corporation (NYSE:NOK): has been fined $55,000 for sending unsolicited text messages to customers and accepted an enforceable undertaking from the Australian Communications and Media Authority to fix the problems linked with the marketing of its short-message-service, the Daily Telegraph reports.

Intel Corporation (NASDAQ:INTC) has developed a new wireless network design concept that the company believes will enable simpler networks, according to GIGAom. China Mobile (NYSE:CHL) is seeking Intel’s help to develop an LTE network that will be largely reliant on the cloud, the publication said.

The shares closed at $26.90, up $0.19, or 0.71%, on the day. Its market capitalization is $136.97 billion.

Microsoft Corporation (NASDAQ:MSFT): Senator Patrick Leahy, a Democrat, said that he hopes to try to soon pass anti Web piracy legislation, even though a bill he backed drew a barrage of criticism from large Internet companies and the public, according to The Hill. The Senate Majority Leader, Democrat Harry Reid, withdrew a vote on the bill that was slated to take place today.

The shares closed at $29.35, down $0.38, or 1.28%, on the day. Its market capitalization is $246.27 billion.

EMC Corporation (NYSE:EMC): Reports Q4 revenue $5.6B vs. consensus $5.49B. Services sales $2.03B, Product sales $3.54B.

The shares closed at $25.14, up $1.7, or 7.25%, on the day. Its market capitalization is $51.28 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