Technology Investing: Riverbed Explodes, Motorola Concedes
Most of Wall Street is prepping for Google’s (NASDAQ:GOOG) earnings tomorrow. But that doesn’t mean nothing has happened today!
1) Riverbed Technology (NASDAQ:RVBD) pre-announced earnings to the upside. The company said first-quarter adjusted earnings will be 19-20 cents a share, higher than previous guidance of 18 cents a share. Riverbed expects to post quarterly revenue of $163-$164 million, against the $159-$161 million it had forecasted earlier. Sucks for short-sellers because the stock is now up ~13%.
2) Motorola (NYSE:MSI) is out with two pieces of news today. First, the company has lowered the sale price of its network-equipment assets to $975 million from $1.2 billion. That’s great news for prospective buyers Nokia Siemens Networks (NYSE:NOK) (NYSE:SI). Second, Motorola (NYSE:MSI) and China’s Huawei settled a legal dispute over trade secrets. Motorola will pay an undisclosed fee to Huawei while transferring its commercial agreements to Nokia Siemens Networks (NYSE:NOK) (NYSE:SI).
3) Zoom Technologies (NASDAQ:ZOOM) entered into a licensing agreement with Qualcomm (NASDAQ:QCOM) to develop and sell 3G mobile phones using Qualcomm’s chip patents. The news sent shares of Zoom up 50%, but they have since chilled to up 37%. Shares of Qualcomm are down 0.3%.