Apple Inc. (NASDAQ:AAPL): An appeals court has brought back an International Trade Commission lawsuit against Motorola Mobility (NASDAQ:GOOG), a case in which Apple argued that two of its multitouch patents are being infringed by Motorola. A three-judge panel from the U.S. Court of Appeals for the Federal Circuit ruled that the ITC made a mistake in March 2012, when it dismissed Apple’s claims that certain Motorola phones infringed two Apple patents.
Dean Foods Co. (NYSE:DF): Dean Foods shares are down after the company reported earnings per share of 13 cents, missing by 1 cent, and revenue of $2.2 billion, missing by $0.05 billion. Though its second-quarter performance was off ever so slightly, the company warned that the third quarter would be the most challenging of the year, as high prices for raw milk and new competition is taking a toll, company executives said.
L Brands Inc. (NYSE:LTD): L Brands stock is surging in the wake of an announcement revealing that same-store sales grew 3 percent in July, although comparable sales at Victoria’s Secret were hurt by a double-digit decline in its direct channel as higher inventory for the label will be cleared in January. However, the company boosted its estimates on full-year EPS to 60 cents from a previous range of 50 cents 55 cents.
ConocoPhillips (NYSE:COP): Conoco has agreed to sell its 226,000-acre Clyden oil sands leasehold to Imperial Oil (AMEX:IMO) and Exxon Mobil (NYSE:XOM) for around $720 million. ConocoPhillips has a 100 percent stake in the asset and expects to record a $450 million or so in after-tax gain, which will be recognized upon the closing of the deal, sometime later in the third quarter.
Groupon Inc. (NASDAQ:GRPN): Shares of Groupon are on a 26 percent tear in the wake of Wednesday’s in-line earnings and revenue beat. The daily deals site named Eric Lefkofsky as its permanent CEO and Ted Leonsis as its chairman. The company’s gross margin was 63.2 percent, gaining 20 bps over the last quarter but down 1,300 bps year-over-year due to a mixed shift toward direct sales. Direct sales (e-commerce, Groupon Goods-focused) saw gains of 17 percent and 190 percent quarter-over-quarter and year-over-year, respectively, to $189.9 million.
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