Tech Stocks in Motion
Qiao Xing Universal Telephone (XING), a China-based manufacturer and distributor of telecom terminals and consumer electronic products, rose 7.4% after one its subsidiaries signed a supply agreement to provide its newly launched set-top-box product to Beijing Radio & TV New Viewpoint Trading Company. The agreement calls for Qiao to distribute up to $20 million in set-top boxes within the first 12 months of the deal. Qiao said that its set-top-box product has a gross profit ratio of more than 40%. Shares traded up 42 cents to $6.11.
Shares of Bitstream (BITS) rose 4.7% after the company announced that Boeing's (BA) business unit signed a licensing agreement for Bitstream's Unicode font for use in Boeing's mobile Internet service. Boeing's Internet service, called Connexion by Boeing, allows travelers to access company email, files and business applications from the airplane instead of travelers having to wait until they reach their final destination. Shares traded up 14 cents to $3.17.
Other technology movers included Microsoft (MSFT), down 28 cents to $23.92; Intel (INTC), down 15 cents to $23.15; Cisco Systems (CSCO), down 14 cents to $17.75; Hewlett-Packard (HPQ), up $1.99 to $21.78; Sun Microsystems (SUNW), up 6 cents to $4.09; Oracle (ORCL), down 15 cents to $12.28; Sirius Satellite Radio (SIRI), up 10 cents to $5.38; MCI (MCIP) up 84 cents to $23.78; and Lucent Technologies (LU), up 2 cents to $2.72.
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