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Microsoft Patent Sale: Judge Rejects Lawsuit Against AOL
A federal judge on Monday rejected a lawsuit against AOL Inc. (NYSE: AOL). Litigants in this case had accused AOL and some of its executives for fraud. They said that the company deliberately bought 14.8 million shares in 2011, keeping investors in dark about its plans to sell $1 billion worth patents to Microsoft Corp. (NASDAQ: MSFT) few months later. Litigants said that they suffered substantial losses as they sold shares before the patent deal. Following the deal, the stock had surged 43% in a single trading day. Litigants argued that both the CEO Tim Armstrong and ex-CFO Arthur Minson bought shares at discounted price and made windfall gains.
Citigroup Initiates Coverage on 11 Internet Stocks
Citigroup equity research analyst Mark May initiated coverage on 11 Internet stocks on Tuesday.
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Major Movers on May 8; AOL, WEN, EA, SYMC, Z
Shares of AOL Inc. (NYSE: AOL) slumped about 8.60% by afternoon trade. Although the web services company reported 23% jump in fiscal first quarter net income, driven by higher revenue from advertising, adjusted earnings fell short of Street’s estimate.
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Major Movers on March 27; LNN, CLF, AOL, FRAN, MFRM, SAI
Shares of Lindsay Corp. (NYSE: LNN) tumbled after the Company warned that orders for its equipments could drop due if prices of crops fall. The Company said that if US harvests turn out to be as strong as anticipated by some commentators then it could have adverse impact on its top line. The company said that until now it benefitted from “positive farmer sentiment” and “historical high farm incomes”
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AOL Q4 Earnings Beat Street’s Forecasts, Posts Best quarterly Revenue Growth in Last 8 Years (AOL)
AOL Inc. (NYSE: AOL) reported 57% jump in fourth-quarter earnings and first revenue growth on year-on-year basis, in last eight years thanks to strong growth in search and third party network advertising sales, underpinning the fact that AOL’s quest to become more of an ad-driven digital media company is paying rich dividends.
AOL Shares Rally on Q3 Results (AOL)
Shares of global web services company AOL Inc. (NYSE: AOL) rallied in trading today as investors cheered the company’s third-quarter financial results. The New York City-based company reported higher-than-expected revenue and profit for the third quarter, driven by strong advertising growth.
AOL Announces Buyback, Special Dividend; Shares Gain (AOL)
Shares of AOL Inc. (NYSE: AOL), a global Web services company, are gaining in trading today after the company announced a $600 million buyback of stock and a special cash dividend of $5.15 per share.
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AOL Shares Rise as Q1 Profit Beats Estimate (AOL)
Shares of AOL Inc. (NYSE: AOL), a global web services company with a range of brands and offerings, have risen sharply in early trading today after the New York City-based company reported better-than-expected results for the first quarter of 2012. AOL’s results beat Street estimates despite weaker ad revenue in the U.S.
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