Shares of Apple Inc. (AAPL) are lower by 0.71% to $111.00 in pre-market trading on Wednesday following a federal jury ruling that said Cupertino infringed on a University of Wisconsin patent when developing processors for some recent iPhones and iPads. Apple could face up to $862 million in damages.
Shares of Goldman Sachs Group, Inc. (GS) are up slightly this morning despite WSJ report saying the FBI and the DOJ are examining Goldman’s role in allegations of corruption and money laundering at a Malaysian state development fund.
The paper noted however, U.S. inquiries are at the information-gathering stage, and there is no suggestion of wrongdoing by the investment bank.
Shares of SanDisk Corp. (SNDK) are up $6.48, or over 10%, at $68.25, after reports the company has hired a bank to explore a potential sale of the business. According to a Bloomberg, Micron Technology, Inc. (MU) and Western Digital Corporation (WDC) are among the suitors.
SanDisk, one of the largest makers of flash memory, has a current market cap of about $12.6 billion.
Shares of CASI Pharmaceuticals, Inc. (CASI) are up more than 17% this morning after the biopharmaceutical company announced that its oncology drug candidate, ENMD-2076, has received Orphan Drug designation from the European Medicines Agency (EMA) for the treatment of hepatocellular carcinoma (HCC), including fibrolamellar carcinoma (FLC), a rare type of HCC.