Vringo, Inc.(NYSEAMEX:VRNG) shares are having another volatile session and the stock slumped 10% after the news that the company has won the Jury’s decision on its patent case against big companies including AOL and Google Inc(NASDAQ:GOOG).
The company would get $30 million in damages and also allowed to get a royalty on Google search ad revenue through 2016, when Vringo's patent expires - some reports indicate the royalty rate is 3.5%. Google will almost certainly appeal.
Considering the stock movement, seems like investors are unhappy with the amount company has been awarded. The company was expecting $500 million in damages, however last week, a Judge said that VRNG can claim for damages since the date it filed the case i.e from September 15, 2011.
Jive Software Inc (NASDAQ:JIVE) shares rose after its revenue and net loss for the third quarter beat Street estimates. Also, the projected revenue for the fourth quarter was in line with analysts’ expectations, although the company sees greater losses than the Street expects.
Revenue for the third quarter rose 39 percent to $28.9 million yielding a net loss of 9 cents a share. As for analysts’ calculations, the company should have earned a net loss of 11 cents a share on revenue of $28.8 million.
The company’s non-GAAP billings rose 47 percent to $38.9 million.
In this quarter, the company which makes enterprise social networking software sees revenue in the range of $30 million and $31.5 million. Adjusted net loss is seen between 15 cents and 17 cents a share. Analysts however, expect a loss of 9 cents a share on revenue of $31.2 million.
Three to four cents of the projected loss in the fourth quarter, is the loss that will be incurred in acquiring two companies by Jive. One of them is Meetings.io which provides for video conferencing through a web browser; the other is Productive, which provides task management software.
Shares of the company rose 16.16% to $13.01.