Thursday, November 8, 2012

VirnetX Holding Corporation, Macy's Were Notable Movers – VHC, M

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.

"We are extremely pleased with the outcome of our suit with Apple," said Kendall Larsen, VirnetX CEO and President.  "This victory further establishes the importance of our patent portfolio."

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.

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