Tech Stock Update
Shares of Creative Technology(CREAF) were among tech's winners Thursday, surging 18% after the maker of digital-entertainment products settled a patent dispute with Apple Computer(AAPL) related to MP3-player-interface software.
Creative will receive $100 million in the form of a one-time licensing fee to settle five lawsuits pending between the companies. The payment is expected to add about 85 cents a share to Creative's current quarter, which ends Sept. 30. Shares of Creative Technology were trading up $1.13 to $7.14, while shares of Apple rose 13 cents to $67.44. TiVo(TIVO) shares climbed 5% after the digital-video recording company signed a deal with Cox Communications to provide its DVR and interactive advertising service to certain Cox subscribers. "We are excited to expand our presence in the cable industry by partnering with Cox, a clear leader in driving consumer adoption of the DVR," TiVo said. Financial terms weren't disclosed. TiVo shares were trading up 69 cents to $7.57. Shares of CACI International(CAI) rose modestly after the information-technology company received a $96.4 million contract to make mobile-communications systems for the U.S. Navy. The contract is comprised of one base year and four option years. CACI shares recently changed hands at $51.63, up 10 cents. Shares of Opsware(OPSW) slid 9% after the software company posted solid second-quarter results but offered a weaker-than-expected third-quarter earnings projection. For the period ended July 31, the company reported a loss of $3.8 million, or 4 cents a share, on revenue of $25.1 million. Excluding items, Opsware earned $1 million, or a penny a share. Analysts polled by Thomson First Call expected break-even earnings and revenue of $23.2 million. During the year-earlier period, the company reported a loss of $3.9 million, or 4 cents a share, on revenue of $14.1 million.TheStreet Premium Services
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