Acacia Research Corporation (NASDAQ:ACTG) announced the acquisition of patents for Wireless Infrastructure and User Equipment Technology from Nokia Siemens Networks. The patents, which relate to 2G, 3G and 4G wireless technologies, were acquired by a subsidiary and form a part of Acacia’s strategy to grow future revenue streams by adding new patent portfolios.
Ford (NYSE:F) is likely to notch up sales of over 2 million vehicles in 2012 and maybe the only auto brand to achieve this benchmark in America this year. It is also the only brand to top the 2 million mark in US sales since 2007. Another distinction: Ford is the only brand to figure in the top 10 bestselling vehicles list globally through September 2012. The Ford Focus has become a powerhouse brand and is the bestselling global vehicle nameplate based on vehicle registration data through that period.
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The Justice Department is struggling to meet its deadline of two years for reaching compensation to minority borrowers who were allegedly discriminated against by Bank of America Corp (NYSE:BAC). The $335 million settlement covers about 233,000 presumed victims of discrimination, mostly black and Hispanic borrowers who were made to pay higher mortgage lending fees or offered costlier sub prime loans even though they merited loans on finer terms. According to the Wall Street Journal, 10% of the letters sent to these victims have been returned undelivered.
Standard and Poor’s has lowered credit ratings for ConAgra Foods Inc (NYSE:CAG) from triple-B to triple-B-minus in response to the company’s announcement that its acquisition of RalpCorp Holdings Inc (NYSE:RAH) would be funded mainly using debt. The move follows Fitch Ratings’ action last month downgrading the company’s ratings citing higher leverage.