Monsanto WINS DuPont Patent Case and 4 Stocks Rising to 52-Week Highs
Kimball Internationa (NASDAQ:KBALB) reports a Q4 revenue of $290.1 compared to $282.82 million a year ago. The shares closed at $9.66, up $0.81 or 9.15% on the day. They have traded in a 52-week range of $4.61 to $9.65.
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Monsanto Company (NYSE:MON): DuPont (NYSE:DD) strongly disagrees with the verdict, which was reached in favor of Monsanto, in Monsanto’s patent case against DuPont in the U.S. District Court in St. Louis, Missouri. The company thinks there were a number of fundamental errors in the case depriving the jury of important facts and arguments and leading to the disappointing outcome. DuPont intends to appeal as soon as possible and expects to overturn this verdict. “DuPont believes that the evidence presented during the trial demonstrated clearly that Monsanto’s Roundup Ready soybean patent RE 39,247 is invalid and unenforceable and that Monsanto intentionally deceived the U.S. Patent and Trademark Office on several occasions as it sought patent protection. Further, DuPont believes that the damages awarded of $1B are unjustified, particularly considering that Pioneer has never sold a single Optimum GAT seed and has no plans to do so in the future. DuPont’s license to sell Roundup Ready soybeans remains in place and is not impacted by this verdict,” stated DuPont SVP and General Counsel Thomas L. Sager. Numerous aspects of Monsanto’s misconduct regarding this patent, which were not tried in the case, will be presented to a separate jury as part of DuPont’s antitrust and patent misuse case against Monsanto in September 2013. “We continue to stand by our position that we did not infringe the Roundup Ready soybean patent and that the Monsanto patent is invalid. DuPont will continue to fight hard to ensure American farmers have choices and that no one company decides what is best for them,” said Sager. The shares closed at $87.38, up $0.97 or 1.12% on the day. They have traded in a 52-week range of $58.89 to $87.77.
Ocwen Financial Corp (NYSE:OCN) reports a Q2 EPS of 32c, consensus 32c. The shares closed at $21.50, up $2.21 or 11.46% on the day. They have traded in a 52-week range of $10.81 to $20.00.
Pennymac Mortgage (NYSE:PMT) reports a Q2 EPS of 79c in comparison to 65c in Q1. The shares closed at $21.93, up $0.77 or 3.64% on the day. They have traded in a 52-week range of $14.10 to $21.35.
Qlt Inc. (NASDAQ:QLTI) reports a Q2 EPS of 33c, consensus 22c. The shares closed at $8.39, down $0.02 or 0.24% on the day. They have traded in a 52-week range of $5.35 to $8.54.
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