Technology Shares Rise Amid Verizon-Disney Pact

In a bullish move, technology shares have risen despite concerns about Apple, with the Dow Jones U.S. Technology Index increasing 1.22 points, or 0.17%, to 720.15. The upswing is attributed to an agreement between Verizon Communications and Walt Disney Co. for access to 10 ABC stations, including ESPN and the Disney Channel. This deal marks a significant step forward for Disney's efforts to secure re-transmission fees from pay-TV carriers. Meanwhile, shares of Apple have declined as speculation about CEO Steve Jobs' health continues to circulate, with no official company announcements.

Key Takeaways:

• The Dow Jones U.S. Technology Index increased 1.22 points, or 0.17%, to 720.15.
• Verizon Communications (VZ) inked a pact with Walt Disney Co. (DIS) for access to 10 ABC stations, including ESPN and the Disney Channel.
• The agreement is a key step forward for Disney's efforts to secure re-transmission fees from pay-TV carriers, including a similar arrangement with Cablevision (CVC).
• Apple (AAPL) shares declined as speculation about CEO Steve Jobs' health continues to circulate, with no official company announcements.
• The PowerShares QQQ ETF (QQQQ) increased 0.03% to $58.90.
• SmarTrend, an automated pattern recognition system, indicated an UPTREND for AAPL on 09-08-2010, CVC on 10-28-2010, and QQQQ on 09-13-2010.

Statistics:

• 1.22 points, or 0.17%, increase in the Dow Jones U.S. Technology Index to 720.15.
• 0.66% increase, or $0.24, in Verizon Communications (VZ) shares to $36.41.
• 0.03% increase in the PowerShares QQQ ETF (QQQQ) to $58.90.
• 1.44% decline in Apple (AAPL) shares to $357.89.
• As of Sunday, 02-13-2011, SmarTrend indicated an UPTREND for AAPL on 09-08-2010, CVC on 10-28-2010, and QQQQ on 09-13-2010.

Sources:

• MidnightTrader.com (COMTEX)
• Bloomberg
• SmarTrend (www.mysmartrend.com)
• Comtex News Network, Inc.
• Disney-Verizon agreement referenced in the article is not explicitly mentioned, so it's not included in the sources list.