4 Tech Stock Stories Ready for a Midweek Scanning
Google Inc. (NASDAQ:GOOG): Closing price $895.10
On Wednesday, Apple and Google’s subsidiary Motorola Mobility faced each other in court as to whether a judge should reopen a lawsuit in which the parties accuse one other of misconduct, using their patented mobile phone technology. The case in question began in 2010, at which time the smartphone makers filed patent infringement lawsuits against each other. Apple argues that Android phones were made employing Google software, using copy elements of its iPhones.
In this case, Apple accused Motorola Mobility, which has since been acquired by Google, of infringing four patents. For its part, Motorola accused Apple of infringing a standard essential patent, one that is needed to make a mobile phone work.
Polycom, Inc. (NASDAQ:PLCM) Closing price $10.80
Polycom announced Wednesday that its board has authorized it to buy back $400 million, or around 20 percent of its outstanding common stock, through a $250 million modified Dutch Auction self-tender offer subsequent to open market acquisitions or privately negotiated transactions. This action conforms to Polycom’s continuing commitment to delivering value to shareholders, as discussed on its second quarter 2013 conference call. The firm will fund the program with $150 million in cash and a new $250 million term loan.
Netflix (NASDAQ:NFLX): Closing price $308.30
Netflix shares closed down 1.5 percent at $308.30 after being downgraded Wednesday morning from Buy to Neutral by Rich Greenfield at BTIG Research,. The stock has crossed the $250 price target he had set, writing that, “We believe Netflix is becoming an increasingly appealing consumer proposition as wired/wireless bandwidth improves and we move toward a personalized entertainment world where everyone has their own device. However, the catalysts we were looking for now appear appropriately reflected in the current stock price.”
Wave Systems Corp. (NASDAQ:WAVX): Closing price $1.39
Digital Management Inc. and Wave Systems are working jointly to offer government and commercial enterprises an array of trusted computing solutions to better secure mobile environments. Through the terms, DMI and Wave will develop, market, and deliver Trusted Computing-based security solutions for the mobile enterprise focused upon Wave’s groundbreaking Trusted Computing product suite.
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