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Here are Monday’s top stories:
Canadian investor Prem Watsa’s Fairfax Financial Hld Sub’s (FRFHF.PK) stake in Research In Motion Limited (NASDAQ:RIMM) rises to 51.9 million shares, with a total value of approximately $351 million, which comprises 9.9 percent of the company. Watsa calculates that RIM’s is undervalued, and recovery could take between three and five years.
Amazon.com, Inc. (NASDAQ:AMZN) intends to launch up to 5 or 6 tablet SKUs, including one for a 10″ model, reports Staples’ United States’ retail head. The various SKUs could represent unique tablet models, or perhaps versions of the same tablet that differ only slightly. Chatter regarding new Kindle Fire models is rife, although it has not stopped sales estimates from getting revised downwards from competitive fears, and reports of share loss. Lab 126, which is the Amazon division responsible for the Fire, has been hiring quite assertively.
Vringo, Inc. (AMEX:VRNG) shares are jumping, perhaps due to a column from SA’s John H. Ford, who contends that Vringo could deliver gigantic returns if it can get even a modest royalty rate on Google search advertising revenue through a patent it owns for ranking search and ad results. The analyst also thinks that recent developments in Vringo’s company’s infringement suit against Google, AOL, and others have been positive.
AT&T Inc. (NYSE:T) has made three-year agreements with the Communications Workers of America which cover more than 18,700 employees. The union says that the contracts, which include annual wage and pension rises, do not include any major concessions on its part.
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