Technology stocks traded higher in the shortened trading session on Black Friday as investors shopped for bargains ahead of the holiday sales season.
Research In Motion
( RIMM) was up $2.83, or 2.5%, to $113.85 at the close of trading on Friday. The company announced on Friday that it has amended its insider trading policy so that its directors, officers and employees can adopt automatic securities trading plans.
Company executives who opted to be part of the plan include Jim Balsillie, co-chief executive officer; Mike Lazaridis, president and co-chief CEO; Larry Conlee, COO of product development and manufacturing; and Dennis Kavelman, COO of operations.
rose 2.5% after it said it
will accept the $19.6 million award for patent infringement by
in which Qualcomm was accused of using chip technology under patent by Broadcom.
Originally, Broadcom had been granted $39.2 million, but a federal judge cut it in half and gave Broadcom the option to seek a new trial or accept the award. Broadcom was up 69 cents to $27.83 while Qualcomm was up 7 cents, or 0.2%, to $40.53.
reversed some of it losses from earlier this week and was up nearly 3% as investors tried to accumulate a position in the stock ahead of the holiday season. Activision's two releases,
Guitar Hero 3
Call of Duty 4
are expected to be among the biggest blockbusters of the season. Activision rose 57 cents to $19.49.
rose 3.7% on hopes that holidays sales would bring in big profits for the company. Sony's PlayStation 3 console has so far lagged rivals including
Xbox 360, but a recent price cut could help the console gain momentum this season. Sony's Bravia line of high-definition LCD TVs and its Vaio laptops could also be popular buys among consumers shopping for electronics. Sony was up $1.75 to $49.08.
Mobile handset makers also posted strong gains.
( PALM) was up 28 cents, or 4%, to $7.21;
( MOT) rose 38 cents, or 2.5%, to $15.71; and
was up 95 cents, or 2.5%, to $38.66.
soared 9.3% after receiving an upgrade from a Bear Stearns analyst to peer perform from underperform. The company has also been the subject of takeover speculation amidst a wave of consolidation in the enterprise software segment. Shares of Tibco were up 63 cents to $7.38.
Microsoft was an exception to the overall bullish tech-stock trend and closed down 12 cents, or 0.4%, to $34.11.