GM to TRIAL Wireless Charging and 3 Stocks that Have Hit 52-Week Lows
Gevo, Inc. (NASDAQ:GEVO) has released the following statement by Executive Vice President and General Counsel Brett Lund, concerning the U.S. Patent and Trademark Office announcement to grant the Butamax Advanced Biofuels Request for Reexamination of Gevo’s GIFT technology, U.S. Patent 8,101,808: “Reexaminations are part of the normal course of a patent dispute, especially when dealing with valuable technology. This reexamination does not validate patent applications of Butamax or anyone else — that isn’t what reexaminations do. The headline in the Butamax press release is inflammatory and misleading. Gevo’s ’808 Patent covers multiple production technologies for higher alcohols in retrofitted ethanol plants. We believe that Butamax is infringing at least one of those technologies. While our claims have been set aside in this most recent USPTO action, Gevo’s lawsuit against Butamax for infringing this ’808 Patent remains unaffected; the trial is scheduled for July of 2014. The next step in the reexamination process is that we will argue why our claims are valid. We also have the opportunity to modify our claims. Gevo believes it has the earliest priority dates on its key commercially viable technologies- including the process technology and biocatalyst. We also hold several other patent applications covering our GIFT technology and continue to lead in biobased isobutanol technology and commercialization”. Shares closed down 1.56 percent on the day at $4.43, and have traded in a 52-week range of $4.10 to $18.54.
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The General Motors Company (NYSE:GM): At Plug-in 2012 in San Antonio, Texas, SPX Service Solutions (NYSE:SPW) reported its intentions for a trial of Plugless Power wireless charging tech on its own Chevrolet Volt electric vehicle. Service Solutions now becomes the first of ten companies to report its involvement in the second phase of the Apollo Launch Program, which is an initiative begun by Evatran, which goal is to encourage electric vehicle adoption by following a group of industry leaders as they trial the charging of wireless electric vehicles. Service Solutions thus joins industry majors from the first phase of the Apollo Launch Program, among which include Google (NASDAQ:GOOG), Hertz Global Holdings, Inc. (NYSE:HTZ), and Duke Energy Corporation (NYSE:DUK). Shares closed down 0.31 percent on the day at $19.30, having been traded in a 52-week range of $19.00 to $29.84.
Green Mountain Coffee Roasters, Inc. (NASDAQ:GMCR) shares fell on Monday, even though its industry peers rose, on the news of Peet’s Coffee & Tea Company (NASDAQ:PEET) being acquired by the German private investment company Joh. A. Benckiser for $73.50 per share in cash, or a total of $1 billion, and will now become a privately owned company. Other coffee makers whose shares moved higher on the news were Caribou Coffee (NASDAQ:CBOU) gaining 2.59% to $11.49, and Coffee Holding Co. (NASDAQ:JVA) adding 5.46% to $5.59. Green Mountain shares closed down 0.46 percent on the day at $17.49, having traded in a 52-week range of $17.38 to $115.98.
Semileds Corp. (NASDAQ:LEDS): China has increased its requirements for LED lighting standards that are used to measure eligibility for subsidy programs in 2012-2013, according to DigiTimes, which cited industry sources. After the changes, the bidding process should be much faster and more than 80 firms can obtain subsidies. Shares closed down 3.88 percent on the day at $2.23, and have traded in a 52-week range of $2.24 to $5.55.
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