Early Movers: RF Micro Devices, Threshold Pharmaceuticals, Cisco Systems
2013-03-26 11:41 ET - News Release
NEW YORK, March 26, 2013 -Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on RF Micro Devices, Threshold Pharmaceuticals, Cisco Systems.
RF Micro Devices, Inc. (NASDAQ:RFMD) stock increased 8.76% to $5.34 after RFMD) was upgraded by research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a report released on Mar. 26. The firm currently has a $7.00 target price on the stock.
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Additionally, the company, on Mar. 19, announced a new Gallium Arsenide (GaAs) sourcing strategy intended to increase manufacturing flexibility, expand gross margin, and support aggressive growth. RFMD will phase out manufacturing in its Newton Aycliffe, UK-based GaAs pHEMT facility and transition most GaAs manufacturing to its GaAs HBT manufacturing facility in Greensboro, NC.
Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) shares gained 2.51% to $4.91. The company, on Mar. 21, announced a global agreement with Siemens Healthcare to acquire its investigational agent [18F]HX4 [flortanidazole (18F)], a radiolabeled hypoxia Positron Emission Tomography (PET) tracer. [18F]HX4 could potentially be used as a companion diagnostic to hypoxia-targeted therapeutics based on Threshold's drug discovery platform.
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Additionally, the company, on Mar. 7, reported financial results for the fourth quarter and year ended December 31, 2012. Revenue for the fourth quarter and year ended December 31, 2012 was $2.0 million and $5.9 million, respectively. Net income for the fourth quarter ended December 31, 2012 was $28.4 million. Net loss for the year ended December 31, 2012 was $71.1 million.
A jury has ruled that Cisco Systems, Inc.(NASDAQ:CSCO) committed fraud against XpertUniverse Inc, and has ordered the networking company to pay the patent licensor $70 million in damages.
A ‘disappointed’ Cisco said it would make an appeal if the judge does not change the verdict.
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Cisco had got embroiled in an intellectual property dispute with XpertUniverse. The latter had developed a technology to help reduce response time for customers seeking help from large organizations, and Cisco had expressed an interest in the same.
However, XpertUniverse later claimed that Cisco fraudulently induced it to share trade secrets and other intellectual property and then started filing patent applications in its own name using the same.
The jury also said that Cisco had violated two XpertUniverse patents, and awarded an additional $34,000 in damages. While Cisco told U.S. District Judge Richard Andrews that "no evidence exists from which the jury could find in favor of XU on either its fraudulent concealment or patent claims," an attorney of XpertUniverse said that they were "obviously very happy" with the ruling.
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