Shares of VirnetX Holding Corporation(NYSEAMEX:VHC) rose $7.32 or 28% to $33.61 soon after the company announced that on November 6, 2012, a Jury in the United States Court for the Eastern District of Texas, Tyler Division, has awarded VirnetX over $368,000,000 in a verdict against Apple Corporation for infringing four VirnetX patents. The Court will hear the post-trial motions in the upcoming weeks.
The allegations involve Apple’s FaceTime video communications service. VirnetX had originally asked for $708 million in damages.
The patents determined to have been infringed in this case were U.S. Patent Nos. 6,502,135, 7,418,504, 7,921,211 and 7,490,151.
VirnetX also has a case against Apple pending at the U.S. International Trade Commission.
Shares of Macy's, Inc.(NYSE:M) fell 93 cents or 2.25% to $40.45 in Yesterday’ session after the share rose 36 cents to $41.74 in morning trade as the company reported a third quarter net income surge by 4.3%.
Macy posted earnings of $145 million, or 36 cents per share, for the three-month period ended Oct. 27, a rise by almost 4% in comparison to last year, which beats the analysts, estimates of 29 cents per share.
Revenue rose 3.7% to $6.07 billion. Revenue at stores open at least a year rose 3.7% and is considered a key indicator of a retailer's health.
FactSet analyst expected revenue of $6.07 billion.
Macy has revised its full year guidance up by 5 cents from its previous projection to $3.35 to $3.40 per share.
Analysts expected $3.39 per share for the year.
For the fourth quarter Macy expects earnings of $1.94 to $1.99 per share.
Further Macy expects revenue at stores open at least a year to rise by 4% in the second half of the year, and a 4.2% rise in the fourth quarter.