SEC Closes Its Sales Tax Inquiry Into Sprint and 2 Other Hot Stocks to Watch
Sprint Nextel Corp. (NYSE:S): Current price $6.73
Sprint revealed in a regulatory finding that the Securities and Exchange Commission issued a formal order of investigation connected with the firm’s sales tax collection on July 23, 2012. On July 2 of this year, the commission advised the company it was closing its investigation and did not plan to recommend an enforcement action against it.
Vringo Inc. (NASDAQ:VRNG): Current price $3.72
A judge’s decision in U.S. District Court for the Eastern District of Virginia said Vringo’s subsidiary, I/P Engine, is entitled to damages, though the amount is not yet determined. More specifically, I/P Engine is entitled to supplemental damages from October 1, 2012, to November 20, 2012; prejudgment interest in an amount to be determined from September 15, 2011, to November 20, 2012; and post-judgment interest for the defendants’ infringement. This latest judgment forms part of Vringo’s ongoing patent litigation.
Sirius XM Radio Inc. (NASDAQ:SIRI): Current price $3.79
Sirius XM said Monday that it will broadcast the 95th PGA Championship, this season’s final major golf championship, from Friday through Sunday on Channel 93 on XM and Channel 208 on Sirius Premier. SiriusXM’s live coverage from Oak Hill Country Club will be hosted by Earl Forcey and analyst John Maginnes, with hole-by-hole updates from reporters-at-large Fred Albers, Mark Carnevale, and Dennis Paulson.