Research in Motion CATCHES A BIG BREAK and 4 Hot Stocks Steaming Mid Day
Research In Motion (NASDAQ:RIMM): A United States district judge overturned a $147.2 million verdict that was levied against a Research In Motion patent infringement suit, filed by privately owned Mformation. Mformation can appeal the ruling, but doing so would require a new trial.
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AstraZeneca (NYSE:AZN): AstraZeneca, who is paying Bristol-Meyers Squibb (NYSE:BMY) $3.4 billion for a 50% share in Amylin’s products including those from an existing diabetes partnership, will also pay the company $135 million to gain equal say in decision making for Amylin Pharmaceuticals. Bristol Meyers recently purchased Amylin for $7 billion.
Windstream (NASDAQ:WIN): Windstream sold off following their second quarter miss. Due to access line losses and just 4% growth in broadband, consumer service revenue fell 3% Y/Y. Wholesale, an area to which the company is reducing exposure, fell 12%, while business sales increased by 2%. The firm’s adjusted free cash flow was $135 million, above the net income of $54 million, and the 1H dividend payout ratio stood at a very high 60%. Nomura has downgraded Windstream.
Toyota (NYSE:TM): Toyota is cracking down on local suppliers who may not be keeping up with the company’s ambitious production goals in North America. The automaker is planning to produce close to 1.8 million vehicles in this year and even more in 2013 and 2014.