Posts Tagged ‘AAPL’

Unwired Planet, Inc. (UPIP) soars after announcement of patent infringement lawsuits against Apple and Google

Thursday, September 20th, 2012

Shares of , Unwired Planet Inc. (Nasdaq: UPIP) were up more than 9 percent from Wednesday’s closing price in morning trading on Thursday after the company announced that it filed patent infringement lawsuits against Apple and Google.

Shares touched a high of $2.02 in morning trading, up from Wednesday’s closing price of $1.85.

The complaints charge Apple with infringing on 10 of Unwired Planet’s patents, and charge Google with infringing on 10 different patents, according to a September 20 press release. The 20 patents are related to smart mobile devices, cloud computing, digital content stores, push notification technologies and location-based services including mapping and advertising, the press release stated.

“Apple and Google generate substantial revenues from devices and services that rely on the intellectual property that Unwired Planet developed and patented over the last 15 years,” said Unwired Planet’s CEO Mike Mulica in the September 20 press release. “They should compensate us for the use of our patented technologies, which are foundational to mobility.”

The complaints were filed in Nevada, which was chosen as “one of 14 districts across the United States as a pilot patent district,” and has developed “specialized procedures to handle complex patent cases,” Mulica said. “As a result, we believe the Nevada district will be an ideal venue to resolve this matter with efficiency and expertise.”

Unwired Planet has about 200 U.S. and foreign patents and roughly 75 pending applications, Fores reported.

Shares of UPIP are down about 19 percent over the past three months.

Zagg Inc. (ZAGG) zooms higher on bottom line

Tuesday, August 16th, 2011

Zagg Inc. (Nasdaq: ZAGG) shares climbed 6.6% to $15.70, on Monday after the maker of cellphones and accessories related to Apple Inc. (Nasdaq: AAPL) products hiked its 2011 revenue forecast and came out with second-quarter figures. Volume for the stock surpassed 5.4 million shares, compared to a daily average of 2.2 million.

A news release out August 15, declared that revenue for the second quarter was $38.8 million, a 158% increase from $15.1 million in the second quarter of 2010 and a 44% sequential increase as compared to $27.0 million in the first quarter of 2011. These results include nine days of iFrogz revenue of $2.4 million, having been acquired during the quarter on June 21, 2011. Revenue by channel was 72% indirect and 22% from the website.

Gross profit for the second quarter was $17.8 million, versus $7.5 million in Q2 2010 and $13.6 million from the previous quarter, which translates into gross margin for the quarter of 46%, versus 50% for Q2 2010 and 51% in the previous quarter. Gross margin for the quarter was in line with ZAGG’s guidance, but down year over year due to the required write up of iFrogz inventory, a product mix shift for iFrogz, additional shipping charges to meet higher than expected demand for iFrogz product, and an increase in obsolescence charges for ZAGG inventory.

The same release quoted CEO Robert Pedersen as saying, “ZAGG’s operational performance in the quarter was extremely strong. During the second quarter we saw revenue growth due to our expanding retail channel, and the increase in product we are putting into the channel. The market for smartphones and tablets continues to rapidly expand, and we are well positioned as a leading accessories provider, especially since our acquisition of iFrogz, which broadens our product offering, expands our distribution to new channels and brings the youth demographic into our mix.

“We are excited about the roll out of iFrogz product on our website, as well as the expansion of our tablet keyboard offerings with the ZAGGfolio™ and the new ZAGGkeys™ SOLO™. We feel that these additions will have an immediate impact to our online sales.”

The Company is raising its 2011 guidance for revenues to $160 million – $170 million, from a previous range of $105 million – $110 million, to reflect an improved outlook for the sale of its products as a result of expanding distribution and increased product offerings, and the acquisition of iFrogz.

ONSM rises, AAPL busy, SBAY sub-par

Wednesday, January 19th, 2011

Onstream Media Corporation (Nasdaq: ONSM) climbed 16.7 percent to $1.26 Wednesday afternoon. Volume of 311,943 shares nearly quadrupled its full-day average. Based out of Pompano Beach, Fla., ONSM is a leading online service provider of live and on-demand Internet broadcasting, corporate web communications and virtual marketplace technology.

Apple Inc. (Nasdaq: AAPL) dealt in 35,634,665 shares, more than doubling its full-day average of 15,576,600. Prices for AAPL tailed off, however, by 0.6 percent to $338.38, after initially rebounding after the iPhone maker blew through earnings estimates on strong iPad sales.

Subaye Inc, (Nasdaq: SBAY) capsized 10.9 percent Wednesday to $10.89. Volume was 227,096 shares doubled its average daily volume of 114, 961. Tuesday, SBAY, a leading online business services provider in China engaged in enterprise cloud computing, launched Groupbuy as a standalone product and will not be offered as a component of Subaye’s Bundled Cloud Product.

FTK jumps, AAPL reacts to Jobs news, BGP tanks

Tuesday, January 18th, 2011

Flotek Industries Inc. (NYSE: FTK) leaped 12.1 percent in price to $6.56. Volume was 1,892,503, nosing its full-day volume average of 1,451,310. The Houston-based FTK supplies drilling and production-related products to the mining and energy industries mining industries.

Apple Inc. (Nasdaq: AAPL) was active Tuesday, dealing in 49,819,895 shares Thursday, better than triple its full-day average. Prices for the stock sagged 2.2 percent to $340.89, on word CEO Steve Jobs is taking medical leave of absence.

Borders Group Inc. (NYSE: BGP) fell 13.2 percent to 92 cents. Volume for the stock was 6,837,874 shares, about three and a half times its all-day average, after reports surfaced over the weekend that the company has hired bankruptcy and restructuring lawyers.