Wednesday, December 30, 2009

Intraday action

All three main US indexes are down midway through the day, as we inch forward to tomorrow's final trading day of 2009.

Among gainers are OSI systems and KForce.

Among the losers is Tessera Technologies (TSRA), due to mixed news in a patent infringement case.  Last night, the International Trade Commission ruled that while the company's patent claims had merit, they did not stand up well enough to constitute "infringement" against the DRAM memory manufacturers the suit is targeting:

“Once again, the ITC affirmed the validity of our asserted patents. We are disappointed, however, with the determinations regarding our infringement methodology and patent exhaustion,” said Henry R. Nothhaft, president and CEO of Tessera. “We will have an opportunity to appeal this ruling and are already reviewing other avenues open to us to ensure we are fully compensated for use of our technology. We continue to work closely with our licensed customers who are benefitting from their use of our patent portfolio, valuable know-how and trade secrets.”

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