Apple Inc. (NASDAQ:AAPL): Apple Inc. announced that they have sold over five million of their new iPhone 5, only three days after the launch on September 21, and more than 100 million iOS devices have been updated with iOS 6, the world’s most advanced mobile operating system. Demand for the iPhone 5 has exceeded the initial supply and while the majority of pre-orders have been shipped to customers, many are scheduled to be shipped in October. The phone is available in the United States, Australia, Canada, France, Germany, Hong Kong, Japan, Singapore and the United Kingdom. On September 8, it will be available to twenty-two more countries and by the end of the year, to more than one hundred countries.
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Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR): On September 21, Questcor Pharmaceuticals Inc. became aware of a United States government investigation involving the Company’s promotional practices. The Company intends to cooperate with the government’s investigation. No additional information will be provided, other than through potential public Regulation FD-compliant disclosures.
Lennar Corp. (NYSE:LEN): Chief Executive Officer, Stuart Miller made the following statement, “The housing market has stabilized and the recovery is well underway. Low mortgage rates, affordable home prices, increased buyer confidence and an extremely favorable rent-to-own comparison are driving growth in each of our markets. Additionally, reduced foreclosures and declining distressed home inventories are further contributing to the improvement in the housing market.”
Google Inc. (NASDAQ:GOOG): According to TechCrunch, after coming under fire for their Map application, Apple has decided to look for some help from former Google Inc. workers. They are currently trying to woo folks who worked on Google Maps, and many are seriously considering joining Apple, since the company offers an opportunity to create something new rather than deliver “tedious updates” to an already established product.
TiVo Inc. (NASDAQ:TIVO): TiVo Inc. has announced that they have settled their pending patent litigation with Verizon Communications (NYSE:VZ), and that the companies have entered into a mutual patent licensing arrangement. As part of the agreement, TiVo and Verizon have decided to dismiss all pending litigations between them with prejudice. Verizon will provide TiVo total compensation worth at least $250.4 million. The payments shall be comprised of a $100 million initial cash payment followed by recurring quarterly payments totaling an additional $150.4 million through July 2018. If the companies pursue certain commercial initiatives prior to Dec. 21, up to $29.4 million of the payments made by Verizon would be subjected to a credit of an equal amount. In addition to the guaranteed compensation, Verizon will also pay monthly license fees through July 2018 for each Verizon DVR subscriber in excess of certain pre-determined levels. Verizon and TiVo are exploring, among other things, future distribution of Internet video services developed through Verizon’s joint venture with Redbox. This will be accomplished by making content distributed via that service part of the diverse selection of linear and broadband-delivered content accessible to users of TiVo’s retail DVR products. The parties also entered into a cross license of their respective patent portfolios in the advanced television field.
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