Cisco Ends Partnership With ZTE Corp. and 4 Hot Stocks Moving Now
American Express Company (NYSE:AXP): For the three months that ended on June 30, prepaid card provider Green Dot (NYSE:GDOT) revealed in August that Walmart (NYSE:WMT) accounted for 62 percent of the company’s total operating revenue, versus 60 percent for the same period during 2011. In the filing, Green Dot stated, “A credit concentration may exist if customers are involved in similar industries, economic sectors, and geographic regions. Our retail distributors operate in similar economic sectors but diverse domestic geographic regions. The loss of a significant retail distributor could have a material adverse effect upon our card sales, profitability, and revenue growth.” Green Dot shares fell 22 percent during pre-market trading following Walmart’s announcement about a prepaid card agreement with American Express. Walmart stated on today’s conference call that it will continue its program will Green Dot and it will keep growing. NetSpend (NASDAQ:NTSP), which is yet another player in the prepaid card space, fell 12 percent to $9.50 following the announcement of the Walmart and AmEx card deal.
Apple Inc. (NASDAQ:AAPL): Unwired Planet (NASDAQ:UPIP) commented in regards to a pending investigation against Apple and Research-in-Motion (NASDAQ:RIMM) in the ITC. Administrative Law Judge E. James Gildea issued a Markman order on Friday, September 28, 2012 providing the definition of disputed terms in the claims of the patents being questioned. In response to a Motion for Clarification that was filed by Unwired Planet on Monday October 1, the ALJ issued another order on Friday October 5. In these orders, all four patents in the ITC case were construed in some manner significantly weakening Apple’s infringement case. Unwired Planet continues to believe that it is important to mention that this result will not impact any patents in pending cases in Nevada, there will be no impact on any other patents in the portfolio except possible implications for the patent family members of the patents-in-suit, and it is not binding upon the Federal Judge in the pending Delaware equivalent case. These events will not show a material impact on the company’s long-term plans since this Markman decision had an effect on just a small portion of of the company’s 200 patents.
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Cisco Systems, Inc. (NASDAQ:CSCO) ended its sales partnership with Chinese firm ZTE Corp. (ZTCOY) due to an internal investigation into allegations that the company sold Cisco networking gear to Iran, according to Reuters.
Microsoft Corporation (NASDAQ:MSFT): The Microsoft Store located in Puerto Rico is scheduled to open on November 1, the Microsoft Store’s Facebook page stated.
Comcast Corporation (NASDAQ:CMCSA): On Friday, the FCC trashed rules that required cable companies to share their content with competitors, like satellite TV providers, according to a report by The Hill on Friday night. The agency is to keep deciding on a case-by-case basis whether it should continue its video distribution deals.