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.