TECH STOCKS: Qualcomm's Atheros Deal Takes Tech Spotlight

Date : 01/05/2011 @ 4:48PM
Source : Dow Jones News
Stock : Autodesk, Inc. (MM) (ADSK)
Quote : 109.75  -0.16 (-0.15%) @ 8:00PM

TECH STOCKS: Qualcomm's Atheros Deal Takes Tech Spotlight

Atheros Communications, Inc. (MM) (NASDAQ:ATHR)
Historical Stock Chart

5 Years : From Jul 2012 to Jul 2017

Click Here for more Atheros Communications, Inc. (MM) Charts.

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Tech stocks closed higher Wednesday, with Qualcomm Inc.'s $3.1 billion deal to buy wireless chip-technology company Atheros Communications Inc. highlighting action in the tech sector.

Speculation about a deal grew on Tuesday, leading Atheros' (ATHR) shares to rise 19% that day. Qualcomm's (QCOM) offer values Atheros at $45 a share. Qualcomm said the deal would help it expand its technologies into new businesses beyond cell phones.

Qualcomm shares rose $1.06, or 2%, to $52.03 after the deal was announced.

Other gains came from Apple Inc. (AAPL), Cisco Systems Inc. (CSCO), Google Inc. (GOOG) and Hewlett-Packard Co. (HPQ)

Autodesk Inc. (ADSK) rose $2.72, or more than 7%, to close at $41.24 after Goldman Sachs raised its rating on the design-software company to buy.

ARM Holdings PLC (ARMHY) rose 79 cents a share, or almost 4%, to $21.88 after media reports said the chip maker could be a takeover target by Intel Corp. (INTC)

Expedia Inc. (EXPEV) shares rose $1.01, or 4%, to $25.43 and Orbitz Worldwide Inc. (OWW) rose 11 cents a share, or more than 2%, to close at $5.30. Parent company AMR Corp. (AMR) said it was in talks about reaching a deal to put American Airlines's fares back on those online travel sites. Expedia and Orbitz had removed American's fares due to a pricing dispute with the airline.

Priceline.com Inc. (PCLN), which isn't involved in the dispute with American, rose $24.22 a share, or almost 6%, to $433.60.

All the gains helped lift the Nasdaq Composite Index (RIXF) up by 21 points to close at 2,702.

Some decliners managed to emerge. Trident Microsystems Inc. (TRID) , which makes chips for digital TVs, set-top boxes and other consumer electronics, fell by 28 cents a share, or more than 14%, to $1.63. Late Tuesday, Trident cut its fourth-quarter revenue forecast due to weakness in its two main business markets.

Mattson Technology Inc. (MTSN) gave up 28 cents a share, or 11%, to fall to $2.28. The semiconductor equipment maker said late that it expects to reports a wider loss, and lower revenue than expected for its fourth quarter. Mattson said its results were being hampered by delays in shipments of tools to customers that make memory chips.

 
 

Latest ADSK Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.