Tech Five: China patent dispute sinks Apple; Oracle rises


Apple shares fell nearly 2% on concerns about China curbing iPhone sales. Oracle shares rose after a fourth-quarter report.
Tech stocks on the move Friday:
Apple (AAPL). Apple is appealing a ruling by Beijingregulators that charged it should halt iPhone 6 and iPhone 6 Plus sales in the capitol city. The Beijing Intellectual Property Bureau said the design violated a patent held by a Chinese company, according to The Wall Street Journal.Apple said its appeal allows it to keep selling phones in the city. The conflict is the latest skirmish between Apple and regulators in China, which accounts for about $59 billion in Apple’s annual sales. Shares were down 1.8% to $95.79 Friday.
Microsoft (MSFT) entered into an agreement with Kind Financial – technology service provider for the cannabis industry – to track the legal marijuana market. "Kind's strategic industry positioning, experienced team and top-notch-technology running in the Microsoft Azure Government cloud, made for an easy decision to align efforts," said Kimberly Nelson, a Microsoft executive, said in a press release.
Oracle (ORCL) stock rose 3% to $39.76 the day after it reported higher-than-expected sales, helped by a jump in cloud services sales. The software giant bought cloud-based energy software company Opower for $532 million last month to help build its cloud software services unit.
Synaptics (SYNA) shares fell 10% to $54.36 after the supplier for Apple touch-screen controllers announced plans to lay off 160 employees and close down office spaces. Synaptics has suffered from declining iPhone sales, which Apple said dropped 16% in the first three months of 2016. The company wrote in a filing to the SEC that workforce reductions will equal about 9% of total staffing levels, and may cost up to $11 million in severance payments.
HTC. Video game fanatics waited in line for up to two hours at the Electronic Entertainment Expo in Los Angeles, Calif. last week to try out HTC Vive's virtual reality headset. E3 Live, E3's three-day fan fest, gave people the opportunity to try out new headsets and games, watch Live Video broadcasts and pose for pictures with statues of gaming icons. Over 20,000 people attended E3 Live, and over 70,000 attended the main E3 conference.
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