RIM Rallies and 3 High Demand Stocks to Watch
Marvell Technology Group Ltd. (NASDAQ:MRVL): On December 26, a jury in the United States District Court for the Western District of Pennsylvania delivered a verdict in a lawsuit brought by Carnegie Mellon University against Marvell Technology Group Ltd. and Marvell Semiconductor, Marvell’s United States operating subsidiary. In this lawsuit, CMU stated that Marvell infringed upon two CMU patents that claimed they used a specific technique related to read channel detector technology, however, this is not used on any Marvell chips. Marvell and MSI stated in an 8-K filing that they believe there should be no disruption to their business or customers as a result of the verdict. Marvell and MSI believe that the evidence and the law do not support the jury’s findings of infringement, validity and the award of damages. There are strong grounds for appeal and Marvell and MSI will seek to overturn the verdict in post-trial motions before the District Court and, if necessary, to appeal to the U.S. Court of Appeals for the Federal Circuit in Washington, D.C.
General Electric Company (NYSE:GE): With about a month to go before the scheduled opening of the locomotive factory, General Electric Transportation, a division of General Electric, is still trying to fill their first 300 jobs. The locomotive factory is under construction just west of Texas Motor Speedway. When complete, GE’s Evolution diesel-electric locomotives, that a company official described as “the most fuel efficient and environmentally friendly heavy haul locomotive in the world,” will be available.
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Cisco Systems, Inc. (NASDAQ:CSCO) announced their intention to purchase a Denver-based policy management solutions provider, BroadHop Inc. The terms of the deal were not disclosed.
Research In Motion Limited (NASDAQ:RIMM): After experiencing a pre-holiday decline, Research In Motion rallied during early trading. RIM shares had gained ground on Wednesday in United States markets while the Toronto Stock Exchange was closed and the TSX followed Nasdaq’s lead on Thursday. Before analysts became concerned about RIM’s plan to change the fees they charge, the stock opened at $11.95, up 14% from Monday’s close, but still $1 below the level