Vringo, Inc.(NYSEAMEX:VRNG) continued to trade with volatility on
Tuesday and ended lower by 18% to $4.45, off 22.50% from session’s high of
$5.73. The stock has been in news since the last week and investors have
reacted positively to all the news with the stock has soared 80% in the past
one week.
Firstly, last week,
the court had ordered Google Inc (NASDAQ:GOOG) to negotiate with VRNG related
to ongoing patent war, where the former was sued by later for infringement of a
patent. Well, this off course is positive
news for VRNG’s shareholders and the soared 58% last week. However, on the
stock retreated on Friday after the company announced that it raised $45
million in a direct offering to five of its existing institutional investors at
$4.35 a share.
Well,
the latest fight is yet to end, the company has decided to sue another company for
patent infringement as on Monday the company said it was suing the UK
subsidiary of ZTE Corporation for infringement.
Will VRNG Hit $10
Before The case Date? Find Out here
It
further said “The filing of this action in the United Kingdom is an initial
step in Vringo’s global licensing and enforcement program in the
telecommunications sector.”
Also,
John Tinker, analyst with Maxim said that Vringo appeared to have Google in a
tight spot going into settlement negotiations and that the Internet search
giant could be liable to pay hundreds of million to Vringo or simply buy the
patents.
Vijay Jayant, an analyst at ISI Group believes that Sirius XM Radio Inc(NASDAQ:SIRI) could surprise the Street with
better-than-expected growth in subscribers for the third quarter, owing to the
surprising strength in September auto sales. He now sees Sirius posting about
456,000 net adds for the current quarter, which is up from initial expectation
of 336,000. He has noted that September US auto sales came in at an adjusted yearly
rate of 14.9 million, which is beyond his prediction of 14.1 million.
Jayant has mentioned in a research note that he is maintaining his
fourth quarter net add estimate at 460,000, reflecting some vigilance ahead of
the impending fiscal cliff.
The analyst said that he would not be taken by surprise if the firm pre-announces
strong outcomes.
Jayant has retained his ‘Buy’ rating and $3 target on Sirius. He
repeated his rating on Liberty Media that owns just lower than half of Sirius.
In another news, RadioShack
Corporation(NYSE:RSH) shares soared over 12% to $2.33 onTuesday after an
analyst at Bank of America/ Merrill Lynch, Denise Chai increased her rating on
the retailer’s shares to ‘buy’ from ‘underperform’. She raised her target from
$2 to $2.50.
Chai said that she has noted a rapid change at the struggling retail
chain. The firm has expelled its CEO, ceased to pay dividend and have bought
back stock. It no longer provides financial supervision. However, she has also
mentioned that with the market cap presently just 20% of inventory and account
receivable, and with more than $1 billion in liquidity and the prospects for
new leadership to take action, she can see bright chances for upside.
Shares of Radioshack Corporation rose by more than 12% to $2.33 during
the morning trading at NY Stock Exchange on Tuesday. Analysts expect the
company a challenging October month. However, there are signs of stability.
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