The five-year patent agreement covers the use of Rambus patents used by Broadcom in its integrated circuit products. In addition, both companies have settled all previous outstanding claims.
Sina (SINA) shares were up nearly 4% to $55.70 as rumors continued for a second day that Russian venture capital firm Digital Sky Technologies has invested in the company.Sina owns a Weibo, a site similar to Twitter, which allows users to post messages of 140 characters. Shares have fallen from a high of $147.12 earlier in the year to current levels, and are down 19.2% year to date.
Shutterfly (SFLY) shares were sharply lower, off 5.3% to $23.77, after the photo sharing Web site cut fourth-quarter revenue guidance. The company said it expects fourth-quarter revenue to be between $259 million and $264 million. It previously saw revenue coming in at a range of $270.5 million to $275.5 million. Analysts polled by Thomson Reuters expect revenue of $267.8 million. Tech stocks were generally rising Friday, with the Nasdaq up 12 points, as durable goods surged in November, led by orders for transportation equipment. -- Written by Chris Ciaccia in New York >To follow the writer on Twitter, go to http://twitter.com/commodity_bull. >To submit a news tip, send an email to: firstname.lastname@example.org
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