Tessera Technologies, Inc. (NASDAQ:TSRA) shares gained 1.80%
to $15.27 after the company announced today that the International Court of
Arbitration of the International Chamber of Commerce (ICC) issued an interim
award in favor of the company in its dispute with Amkor Technology, Inc. The
ICC tribunal confirmed that the Amkor license agreement had been properly
terminated by Tessera, Inc. in February 2011. Based on a preliminary review of
the interim award, Tessera, Inc. plans to seek an amount in excess of $125
million from Amkor.
Yahoo! Inc. (NASDAQ:YHOO) shares fell 0.35% to $15.73 after
Yahoo! Inc. (NASDAQ:YHOO) and Facebook Inc (NASDAQ:FB) said on Friday that they
have settled a patent litigation case that began in March, also entered into
definitive agreements that launch a new advertising partnership and
strengthening distribution arrangements.
Additionally, Alibaba Group Holding Ltd. will sign a $1
billion four-year term loan with about seven banks on a club basis to fund a
buyback of a stake of about 20 percent from Yahoo! Inc.
Mastercard Inc (NYSE:MA) shares declined 2.52% to $430.52
after the analysts atUBS cut its rating on MA from “Neutral” to “Sell” with a
$403 price target, implies a nearly 9% downside to the stock’s Friday closing
price of $441.63. UBS cited sluggish growth and an unfavourable risk/reward for
the bearish view on the company.
Boston Beer Co Inc (NYSE:SAM) shares dropped 7.33% to
$115.27 after the shares of the company was downgraded by equities researchers
at UBS AG from a “neutral” rating to a “sell” rating in a report issued today.
The company last posted its quarterly earnings results on May 2, 2012. The
company reported $0.56 earnings per share for the quarter, beating the
analysts’ consensus estimate of $0.41. Analysts expect that the company will
post $4.19 EPS for the current fiscal year.
Apple Inc. (NASDAQ:AAPL) shares increased 0.76% to $610.25
after the company is expected to sell 4 million to 6 million
still-to-be-released smaller iPad tablets in this year’s fourth-quarter holiday
season, according to Piper Jaffray Cos. Analysts Munster from Piper Jaffray
rates the shares of Apple overweight, the equivalent of a buy recommendation.
Munster has set a target price of $910. Apple closed on July 6 at $605.88.
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