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Sonic Solutions stock soars on Microsoft pact | |
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||
| Time: 05:33 EST/10:33 GMT | News Source: Yahoo News | Posted By: Matthew Sabean | ||
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Shares of Sonic Solutions shot up almost 40 percent on Wednesday after the company announced that Microsoft Corp. has licensed Sonic's technology that enables computer users to create their own DVDs.Financial details of the multiyear agreement were not disclosed. Shares of Marin County, California-based Sonic jumped to a high of $7.80, up from Tuesday's closing price of $5.59. In early afternoon dealings, the stock was up $1.92 at $7.51 on volume of 2.2 million shares -- more than 5 times its daily average. | ||
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