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SanDisk Shares Soar After Samsung Deal On Chips

Stock quotes in this article: SNDK  

NEW YORK (AP) — Shares of SanDisk Corp. soared Wednesday after the flash memory card maker renewed a chip patent cross-licensing agreement with Samsung Electronics Co. and secured a guaranteed portion of future memory chip output from the company.

The agreement announced Wednesday replaces a deal that expires Aug. 14 and runs for seven years. The companies did not disclose financial details of the arrangement.

Shares jumped $2.09, or 15 percent, to $15.67 in afternoon trading. ...

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