Tech stocks were trading slightly higher on Wednesday, with the Nasdaq adding 18 points to 2172.
shares climbed 5.9% to $19.48 after the U.S. Court of Appeals upheld a jury verdict that
had infringed on two of the company's patents. The appeals court also rejected Qualcomm's request for a new trial.
slipped 3.3% to $27.82 after Credit Suisse downgraded it to neutral from outperform. The firm sees negative trends in technology and believes Arrow's valuation is no longer compelling. It cut the price target on the stock to $31 from $43.
fell 7.1% to $22.41 after Merrill Lynch downgraded the stock to underperform from neutral and lowered its price target to $25 from $35. The firm cited recent events in the financial sector as a reason to take a cautious view.
Merrill Lynch also downgraded
to underperform from neutral and cut its price target to $24 from $27. The firm expects Juniper to eventually face the same slowdown plaguing other networking vendors.
Shares of Juniper were down 3.8% to $23.31 in recent trading.
also benefitted from a court's decision refusing to hear a challenge by
to a ruling from the Appellate Court of Illinois, which held that Sprint should cease owning, operating, and managing the Nextel wireless network in iPCS's territory.
iPCS's stock jumped 12.2% to $22.70 in recent trading.
shares were up on rumors that the company could be a target for an acquisition. Rumors had been swirling earlier this month that
may be interested in purchasing it.
Citrix was up 6.4% to $28.58 .
were also up, despite the company lowering its revenue target for the third quarter to $530 million, plus or minus $10 million, from its previous forecast of $560 million to $620 million. It also lowered its expected gross margin to 51%, plus or minus 1%, from its previous forecast of 54% to 55%.
Nonetheless, RBC Capital raised the stock's rating from outperform from sector perform "based on the likely renewal of demand growth in the solar sector."
The stock was up 7.2% to $31.05 .