4 Tech Stock Stories to Start the Short Trading Week

Intel Corporation (NASDAQ:INTC): Closing price $24.08

The joint venture ST-Ericsson, which is being wound down by its owners STMicroelectronics and Ericsson, has sold its GPS mobile division to Intel. ST-Ericsson announced the sale on Tuesday without identifying the buyer. Later, a spokesperson for Intel spokesman said that it bought the assets. Neither party revealed the price, but ST-Ericsson said that the proceeds from the sale, along with the avoidance of employee restructuring charges and other related restructuring costs, would lower the joint venture’s cash requirements by about $90 million.

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INTC

Symantec Corporation (NASDAQ:SYMC): Closing price $22.90

Symantec has quietly retired its PC Tools array of security products, which had been acquired in 2008. PC Tools offered consumer-and-micro-business-grade anti-virus and network security tools known as “Spyware Doctor,” “Internet Security,” and “Spyware Doctor with Antivirus.” The purchase of the Australian firm that designed the products gave Symantec a low-end brand to help its main Norton mark look high-end. However, tthat strategy seems now to be antiquated, with Symantec indicating that PC Tools is now outdated “as we focus on streamlining our product range to provide fewer, better solutions for our customers.”

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SYMC

Apple (NASDAQ:AAPL): Closing price $441.44

Shares are down 0.75 percent in late afternoon trading, after a negative report Tuesday morning from Glen Yeung at Citigroup, who reiterates a Neutral, and a $430 price target, noting that the firm’s gross margin is at risk in 2013, considering that his “checks” of the electronics supply chain imply more of the older iPhone 4 and 4S are being purchased and also that there is a low-cost iPhone coming, and a “sub-$250 iPad mini” on the way as well. The research firm IDC, in a report Tuesday morning, said that tablet computer shipments will climb nearly 59 percent this year, to a total of 229.3 million units. Analyst Loren Loverde at IDC commented that  “Many users are realizing that everyday computing, such as accessing the Web, connecting to social media, sending emails, as well as using a variety of apps, doesn’t require a lot of computing power or local storage. Instead, they are putting a premium on access from a variety of smaller devices with longer battery life, an instant-on function, and intuitive touch-centric interfaces.”

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AAPL

International Business Machines Corporation (NYSE:IBM): Closing price $207.78

On Tuesday, Acacia Research Corporation said that its Business Process Modeling Solutions subsidiary has reached a license accord with International Business Machines Corporation. The license agreement settles litigation that was pending in the United States District Court for the Northern District of Texas.

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IBM

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