For Immediate Release
Chicago, IL – November 25, 2013 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Apple Inc ( AAPL- Free Report), Nokia Corporation ( NOK- Free Report), SIRIUS XM Radio Inc. ( SIRI- Free Report), Pandora Media, Inc. ( P- Free Report) and Microsoft Corp. ( MSFT- Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free .
Here are highlights from Friday’s Analyst Blog:
Jury Awards $290M to Apple
Apple Inc ( AAPL- Free Report) recently received a favorable ruling against its arch rival Samsung, after a U.S. jury ordered the South Korean company to pay $290.0 million as damages to the iPhone maker. Apple now owes more than $900.0 million to Samsung.
In a 2012 verdict, 26 Samsung devices were found guilty of infringing Apple patents and the company was asked to pay $1.05 billion as damages by the then jury. However, U.S. District Judge Lucy Koh upheld approximately $640.0 million of that verdict and ordered a retrial, citing errors in calculating damages on 13 Samsung devices.
The retrial held in San Jose, Calif. federal court recalculated the damages and awarded $290.0 million to Apple, much less than the original penalty. This was lower than Apple”s demand of $380.0 million, but much higher than Samsung’s estimated figure of $52.0 million.
This is the second consecutive win for the company within a short span of time. On Nov 18, the U.S. Court of Appeals ruled that Judge Lucy Koh should reconsider Apple’s request for a U.S. ban on Samsung products that were found guilty of infringing patents.
Last December, the U.S. Judge had denied Apple’s request for a ban on 26 Samsung products. The appeals court ruled that out of the 6 infringed patents, 3 qualified for calling a ban on Samsung products.
However, the legal fight between the two companies doesn’t end here, as Samsung plans to challenge the retrial verdict. Moreover, both Apple and Samsung are scheduled to meet in court in Mar 2014 in a new trial for examining more recent smartphones that include iPhone 5 and Galaxy S3.
Although these are great moral victories for the iPhone maker, they do not provide significant competitive benefit apart from the penalty. The recent legal victories are related to products that Samsung does not sell anymore.
Nokia Unveils Enhanced Music App
Finnish handset manufacturer, Nokia Corporation ( NOK- Free Report) has enhanced its music service by introducing an advanced music app called Nokia MixRadio. The software, previously known as Nokia Music, can easily be downloaded from the Windows app store.
This new application is powered with a Play Me feature which allows constant streaming of ad free music, The app also plays the user’s choice gathering information from the listening habit of the user. The music available can be downloaded for free. Moreover, at an additional cost of $3.99 per month, one can download and listen to unlimited music while offline.
This unique and trendy music streaming application is expected to outdo music streaming apps provided by SIRIUS XM Radio Inc. ( SIRI- Free Report) and Pandora Media, Inc. ( P- Free Report).
Nokia is gearing up for the upcoming holiday season with the launch of its latest tablet and two new 6 inch smartphones, Lumia 1320 and 1520. Moreover, the company has launched three Asha flagship phones, Asha 500, 502 and 503, costing $69, $89 and $99, respectively.
In the recently concluded third quarter of 2013, the company sold 8.8 million Lumia smartphones, up 40% from the prior-year quarter. Thus, it is highly anticipated that the company will generate strong sales during this holiday season mainly buoyed by launch of high-end gadgets, feature phones and apps.
Microsoft Corp. ( MSFT- Free Report) has decided to acquire Nokia Corp.’s handset business for $7.2 billion. Nokia’s shareholders have approved the deal. The deal is expected to close in the first quarter of 2014, only subject to regulators’ approval.
Nokia currently carries a Zacks Rank #3 (Hold).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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For Immediate Release