Fossil, Inc (NASDAQ:FOSL) announced its new stock repurchase program under which the company is authorised to repurchase up to $1 billion of its outstanding shares of common stock from time to time. The authorisation is valid up to December 31, 2016. “We believe utilising our strong balance sheet and future cash flows will be sufficient to fund this program as well as future investments to support the company’s long-term growth objectives,” says the company.
Traffic results for November 2012 and year to date US Airways Group (NYSE:LCC) show that the company’s mainline revenue passenger miles for the month were up 4% on a year-on-year basis to 4.8 billion. Mainline capacity was 5.7 billion available seat miles which was up 2.5% over the same period last year. The airline achieved a record mainline passenger load factor of 85.1%, which was up by 1.3 points compared to November 2011. The airline had a preliminary on-time performance of 88.1% during November with a completion factor of 98.9%.
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Vringo Inc (AMEX:VRNG) has filed a second lawsuit against the UK subsidiary of ZTE Corporation alleging infringement of certain European patents relevant to infrastructure such as base stations, base station controllers and mobile switching centres. The company has demanded that ZTE request licensing for the patents in question failing which the Court would be asked for appropriate relief.
Mitek Systems (MITK) and US Bancorp (NYSE:USB) have tied up to offer Mitek’s Mobile Photo Bill Pay product to the bank’s customers. The customers will benefit by simply clicking a picture of their paper bill through a smart phone or tablet camera and making the payment directly through that device instead of having to manually enter the bill details. The technology automatically extracts the required information from the paper bill image and auto populates the fields required to effect the mobile payment. The service will become available in early 2013.
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