Discussion in 'Stocks' started by Artie21, Nov 16, 2006.
The game resumes.
Long today 21.
Looking for 25 soon.
nice, u bot pretty cheap considerin' what prices were available troughout the day.
I am glad you like to get a discount, as your mother apparently got one from God.
Any serious posters out there?
Rambus shares rise on FTC talk
By John Shinal, MarketWatch
Last Update: 4:49 PM ET Nov 16, 2006
(Corrects final paragraph to show that it was former Rambus CEO who resigned amid an options probe, not former CFO)
SAN FRANCISCO (MarketWatch) -- Rambus Inc. shares soared 30% Thursday after several Wall Street analysts speculated that the maker of memory-chip technology will receive a favorable ruling in a patent dispute before the U.S. Federal Trade Commission.
Rambus (RMBS : Rambus Inc
News , chart, profile, more
Delayed quote dataAdd to portfolio
RMBS21.72, +5.07, +30.5%) , whose shares often see large one-day moves related to the company's many legal proceedings, rose $5.07 to $21.72. Trading volume was more than four times the stock's daily average.
Based on questions posed by FTC commissioners at a hearing Wednesday, any penalties imposed upon Rambus for past anti-competitive practices won't impact two types of memory-chip technology that the company licenses to other chipmakers, according to a note sent to clients by Jeff Schreiner, an analyst with American Technology Research.
The analyst, who has a buy rating on the shares, raised his price target on Rambus to $32 from $28. A ruling from the FTC should come within 45 to 60 days, according to Schreiner.
The FTC on Aug. 2 ruled that Rambus engaged in anti-competitive behavior and the commission is now deciding what penalties the company should pay. The FTC said then that Rambus engaged in deceptive conduct related to its dealings with a standards-setting body for computer-memory technology.
Rambus shares rose 18% on Aug. 23, when a federal judge overseeing a lawsuit filed by Rambus against Hynix Semiconductor suspended the case until the FTC makes a ruling on what royalty rate should apply to certain technologies that Rambus licenses to Hynix, or until Feb. 2, whichever comes first.
The judge in that case had previously ruled that a $307 million damage award to Rambus was excessive and had granted Hynix's request for a new trial if Rambus didn't accept a lower amount. Rambus later accepted an award of $133.6 million for some of its claims but reserved the right to pursue prior interest and damages that occurred after Dec. 31, 2005.
Rambus has delayed filing full financial results for its latest reporting period amid a probe into past accounting for employee stock option grants. The probe prompted the company's former chief executive officer, Geoff Tate, to resign from the Rambus board.
John Shinal is the technology editor of MarketWatch in San Francisco.
Separate names with a comma.