Apple Inc. (AAPL) — A federal jury Friday ordered the tech giant to pay more than $234 million to the University of Wisconsin’s patent licensing arm for infringing its patent on microchip technology used in some of Apple’s iPhones and iPads.
Shares of Apple are down $0.09, or 0.08%, at $110.95 in pre-market trading.
Morgan Stanley (MS) reported third-quarter non-GAAP EPS of $0.34 before the opening bell Monday, compared to the consensus estimate of $0.63. Revenues decreased 12.7%, from $8.9 billion last year, to $7.77 billion. Analysts expected revenues of $8.46 billion. Fixed-income trading revenue came in at $2.03 billion, 17% lower from a year ago.
“The volatility in global markets in the third-quarter led to a difficult environment, impacting in particular our fixed income business and our Asia merchant banking business,” Ceo James Gorman said in a statement.
MS slumped more than two points to $31.90 in premarket trading immediately following the report.
Shares of PMC-Sierra Inc. (PMCS) are higher by nearly 13% to $11.56 in pre-market trading on Monday following this morning’s news of the Santa Clara, Calif.-based company being a target of a $2.4 billion, or $11.50 per share cash-stock takeover bid from Microsemi Corp. (MSCC). PMCS already has a deal to be acquired by Skyworks Solutions (SWKS) for $10.50 per share.
Chipmaker Microsemi Corp. said the deal would help it provide “scalable storage services for data center and cloud apps, while also adding a complementary portfolio of high-value communications products.”
Shares of Yahoo Inc (YHOO) are down marginally in premarket hours on news the company’s chief development officer, Jacqueline Reses, is leaving to join mobile payments firm Square Inc, Bloomberg reported.
The arrival of Reses comes after Jack Dorsey was this month named permanent CEO of Twitter Inc. (TWTR), a role he also holds at Square ahead of its IPO.
Shares of Weight Watchers International, Inc. (WTW) are skyrocketing by 91% to $13.01 on heavy volume at the start of premarket trading on Monday morning, after the weight management services provider announced billionaire media mogul Oprah Winfrey has acquired a 10% stake in the company. Winfrey is also getting options to acquire an additional 5% stake.