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.
Shutterfly (SFLY - Get Report) 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: email@example.com