Apple reportedly wanted to invest $1 billion into Taiwan Semiconductor (TSM), giving Apple exclusivity to the chip manufacturer and the smartphone chips it produces. Apple, as well as Qualcomm (QCOM) both made similar offers, and both were rebuffed, the report said.
Apple shares were off 35 cents at $674.45 in recent trades.
Lexmark International (LXK - Get Report) shares fell on heavier-than-normal volume one day after the company announced it plans to divest its inkjet business. Lexmark said it will stop making and selling inkjet printers, and focus on its imaging and software businesses. As a result of the decision, Lexmark intends to sell its 1,000 patents related to inkjet printing and lay off 1,700 workers. Shares of Lexmark fell 1.03% to $21.10, one day after rising more than 13% on the news.
At mid-day, tech stocks were largely flat, with the Nasdaq up less than 0.1%, as all eyes are focused on Federal Reserve Chairman Ben Bernanke, who is set to speak later in the week at Jackson Hole, Wyo. Interested in more on Yelp? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull