Tech Stocks in Motion
Texas Instruments (TXN) was higher following news that Bain Capital is interested in its sensors and control unit. According to The Wall Street Journal, the division, which has become increasingly out of sync with the parent's semiconductor focus, could fetch $2.5 billion. The operations employ about 6,000 people and had revenue of more than $1 billion in 2004. Recently, shares of Texas Instruments were up 14 cents to $32.86.
General Electric (GE) rose after saying its NBC Universal unit will acquire a controlling stake in the MSNBC cable channel from joint venture partner Microsoft (MSFT). The two companies founded the 24-hour news network 10 years ago and have watched it languish behind CNN and Fox News in the ratings. No price was disclosed in the restructuring, which doesn't involve the MSNBC Web site. Along with the controlling interest, GE also got a two-year option to buy the cable station outright. Recently, GE's stock was up 8 cents to $35.50.
Other heavily traded technology stocks Friday included Oracle (ORLC), up 5 cents to $12.37; Cisco (CSCO), up 6 cents to $17.35; Sirius Satellite Radio (SIRI), up 5 cents to $6.75; Sun Microsystems (SUNW), up 5 cents to $4.37; Intel (INTC), down 2 cents to $25.96; Motorola (MOT), up 36 cents to $23.62; and Maxtor (MXO), up 10 cents to $7.14.
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