InterDigital (IDCC +6.5%), hammered last week by a poor Q1 report, is rallying after announcing...
Friday, May 4, 2012, 2:45 PM ETInterDigital (IDCC +6.5%), hammered last week by a poor Q1 report, is rallying after announcing a $100M stock buyback program, good for repurchasing 8.1% of all shares at current levels. In addition, the 3G/4G patent holder is guiding for Q2 revenue of $71M, above a $67.1M consensus. The guidance is partly due to the sale of 4 patent families, which InterDigital says is unrelated to its efforts to unload larger portfolios.
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