Tech Biz Insights: Facebook Prices IPO, EA Shuffles the Deck
Electronic Arts (NASDAQ:EA) hired two executives who had connections to Activision’s (NASDAQ:ATVI) Call of Duty franchise, and was sued by the latter for $400 million. A settlement has now been reached, although the terms have not been announced as of yet.
Shares of Universal Display (NASDAQ:PANL) plummet on the news that the broadest of one of the company’s patents has be invalidated by the Japan Patent Office. However, certain claims were upheld, but a local court sides with an earlier ruling by the agency that invalidated the broadest claims of another of PANL’s patents. Meanwhile, KeyBanc weighs in, says that the decisions in Japan will have “little to no impact” on the firm’s financials, and that the patents in question were also issued in the United States. Moreover, the analyst notes that patent laws are stricter in Japan, anyway.
Investing Insights: Will Facebook Measure Up to These Internet Titan IPOs?
As Facebook’s (NASDAQ:FB) runup to its initial public offering continues, the price will be $38, which would represent a market cap of $104 billion. At the same time it should be noted that FB is also likely to sell its entire over-allotment option, which means that $18.4 billion worth of shares will be sold in the offering. Indeed, rumors abound that NASDAQ index funds are selling, to provide room for Facebook and its enormous market cap, which is not good news for Apple (NASDAQ:AAPL) whose shares are down, perhaps in relation to the hubbub over the former’s media frenzy.
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