Ford and CAW Hammer Out a Deal and 4 Heavily Traded Shares Making Headlines
Micron Technology, Inc. (NASDAQ:MU): Intellectual Ventures announced that they have reached settlement agreements with SK Hynix and Elpida Memory and resolved all pending patent infringement litigations with both companies. Hynix Semi-conductor, now SK Hynix, and Elpida were named as defendants in IV’s patent infringement action filed in December 2010 in the United States District Court for the District of Delaware. Both companies and certain customers were also named as respondents in an investigation by the United States International Trade Commission concerning certain memory device manufacturers based on an IV complaint filed in July 2011 and a related action in the U.S. District Court for the Western District of Washington that was filed during the same month. Due to the settlement agreements, IV will file motions to dismiss all pending litigation against the companies and their customers who were named as respondents. Deal terms will remain confidential. Note Micron Technology, Inc. is attempting to acquire Elpida.
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Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR): On September 21, Questcor Pharmaceuticals, Inc. became aware of a United States government investigation involving the Company’s promotional practices. They intend to cooperate with the government in this investigation. No additional information will be provided other than through potential public Regulation FD-compliant disclosures.
General Electric Company (NYSE:GE): General Electric Company Oil & Gas announced that they will supply their gas turbine driven compressor train technology to Malaysia’s national oil and gas company, Petronas, for a floating liquefied natural gas facility (FLNG) that is being developed off the coast of Malaysia. The start-up of the FLNG facility is scheduled for the fourth quarter of 2015. It will be moored about 180 kilometers off the coast of Bintulu, Sarawak and is designed to produce 1.2 million tons a year of liquid natural gas. Once on stream, the facility will boost Malaysia’s total LNG production capacity from 25.7 million tonne per annum (mtpa) to 26.9 mtpa.
Sirius XM Radio Inc (NASDAQ:SIRI): According to the New York Times, a new bill, the Internet Radio Fairness Act, introduced in Congress would move “non-interactive online radio services” like Pandora (NYSE:P) and iHeartRadio from their current royalty model to one which could result in lower rates, similar to those paid by satellite radio providers such as Sirius XM (NASDAQ:SIRI).
Ford Motor Company (NYSE:F): According to Bloomberg, Ford Motor Company employees, represented by the Canadian Auto Workers Union, ratified a four-year contract eliminating most of their cost-of-living raises in favor of bonuses, will add 600 jobs, and will extend the time it takes for a new employee to reach full pay.
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