Technology Biz Recap: Oracle SETTLES Suit, Facebook Users PLATEAU
Shares of Juniper (NYSE:JNPR) plunge toward its 52-week low, following stern treatment by FBR, which worries about the firm’s product transitions, and its ability to keep up with Cisco’s (NASDAQ:CSCO) latest solutions. Further, the latter recruited several Juniper executives in 2011, and has been winning market shares in core routers and Ethernet switches. Accordingly, FBR lowered the firm’s price target from $24 to $14.
Oracle (NASDAQ:ORCL) agrees to settle its patent infringement suit against Google (NASDAQ:GOOG) for zero statutory damages, but it’s filing a partial at the same time. Oracle once sought billions in damages from Google, because Android’s use of Java programming interfaces, and in May a jury found Google innocent of all 8 patent infringement claims levied by Oracle, and then a judge rejected Oracle’s request to nullify the jury’s decision.
Don’t Miss: Oracle to Google: We’ve Got BIGGER Fish to Fry.
A New York Times article causes shares of Pandora (NYSE:P) to slump Thursday, as it detailed the advent of P’s new competition from Spotify and Songza. Discussed was the possibility that Songza’s manually-created playlists might beat Pandora’s algorithm-based approach at delivering the music genre that a user wants to hear at a particular moment.
Facebook’s (NASDAQ:FB) domestic usage seems to be nearing a saturation point, as its U.S. unique visitors numbers keep dropping, although its less accretive international usage keeps rising. Domestic usage fell by approximately 700,000 month-to-month in May to 158 million, says conScore, and that followed a slight drop in April. On the shares front, Argus joins Evercore in starting coverage with a Hold, while worrying aloud about mobile monetization.
Don’t Miss: Facebook Narrowly Escapes IPO Hall of SHAME.
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