Technology Sector Review: Arbitron Buybacks, Proview’s iPad Petition
Arbitron Inc. (NYSE:ARB) announced that its Board of Directors has authorized a program under which the company may repurchase up to $100M in shares of the company’s common stock. The company expects the shares of common stock may be purchased from time to time in either open market or private transactions, in accordance with applicable insider trading and other securities laws and regulations, at then-prevailing market prices over a period of up to two years ending Feb. 9, 2014. The exact timing and amount of purchases will depend on market conditions.
The shares closed at $37.21, up $1.82, or 5.14%, on the day. Its market capitalization is $1.01 billion.
Apple Inc. (NASDAQ:AAPL): Proview Technology, the company that claims to own the “iPad” trademark, is reportedly petitioning Chinese customs to stop shipments of Apple’s (NASDAQ:AAPL) iPads following complaints to the Administrations of Industry and Commerce, The Next Web reports. Apple is appealing an earlier trademark ruling in China that found Proview holds the rights to the name.
The shares closed at $509.46, up $6.86, or 1.36%, on the day. Its market capitalization is $475.01 billion.
Microsoft Corporation (NASDAQ:MSFT): The Department of Justice’s Antitrust Division has closed of its investigations Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Research in Motion (NASDAQ:RIMM) of certain Nortel Networks Corporation (NRTLQ) patents, and the acquisition by Apple of certain Novell Inc. patents. The DOJ says “After a thorough review of the proposed transactions, the Antitrust Division has determined that each acquisition is unlikely to substantially lessen competition and has closed the investigations.”
The shares closed at $30.25, down $0.13, or 0.43%, on the day. Its market capitalization is $253.82 billion.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.