Jane -- Check this out. I'm really high on IDC.
This came off of the Dow Jones newswire tonight!
Yeah!!!! They make reference to IDC as a baby QCOM!!!!!
NEW YORK (Dow Jones)--Interdigital Communications Corp. (IDC) took its
second consecutive double-digit gain Monday as investors speculated that
another company may be using the telecommunications concern's patented
technology.
Sometimes referred to as a baby Qualcomm Inc. (QCOM), Interdigital
completed a two-day run-up that began Friday when the stock jumped 60%.
Over the past two days, the King of Prussia, Pa., company has seen its
shares soar 83%.
The stock was the second most actively traded issue on the American Stock
Exchange Monday. It closed at 20 that day, up 2 1/2, or 14.3%, on volume of
5.7 million, compared with a daily average of 598,600. Earlier, shares hit
an intraday high of 22, past the previous 52-week ceiling of 18 1/4 set
Friday.
There was no hard news out, only speculation that another company may be
using Interdigital's patented system for use in code division multiple
access (CDMA) - a form of digital cellular phone service.
Interdigital officials would not comment on those rumors. The patents are
already the center of pending lawsuit with Ericsson Telephone Co. (ERICY).
Interdigital recently received notice that it received two reexamination
certificates on three patents from the U.S. Patent and Trademark Office.
Rip Tilden, Interdigital executive vice president of communications and
investor relations, said the company owns 800 patents around the world on
CDMA and time division multiple access - a technology used to separate
multiple conversations transmitted over the air.
Those patents should be worth substantial revenue as the world moves to a
third-generation standard for wireless data and voice transmissions, Tilden
said.
"We do feel we've got pretty good long-term growth prospects," he said.
"That seems to have given investors confidence in our long-term potential."
- Johnathan Burns; Dow Jones Newswires, 201-938-2020,
johnathan.burns@dowjones.com
(END) DOW JONES NEWS 12-13-99
06:10 PM |
