Vringo, Inc. (AMEX:VRNG) V Google Inc (GOOG): What We Have Got So Far?

Shares of Vringo, Inc.(NYSEAMEX:VRNG), the patent holding company fell about 10% (after yesterday’s rebound of 8%) after its victory against AOL, Inc.(NYSE:AOL) and Google Inc(NASDAQ:GOOG) in a jury lawsuit in Virginia. The victory is supposed to bring $30 million to the company in up-front damages and royalties that could amount to millions over a number of years.

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Vringo had filed a case against Google and some other big companies saying that their web search efforts violated basic technologies that are owned by Vringo since many years. The amounts that were proposed by the jury seem to be way lower than some people were expecting out the victory.

Vringo has issued a statement saying that the company has received many inquiries regarding the jury’s computation of damages incurred in the past. Vringo’s legal term is reconsidering the verdict and plans to tackle all post-trial matters with the court.

The stock has got at least one thumps up from the Street. John Tinker from Maxim Group has reiterated a Buy rating on Vringo stock and a price target of $10. He has written that the judge can tackle the misunderstandings that have taken place in the post-trial briefings.

Tinker has explained how the jury went about its verdict on royalties and damages where the discrepancy seems to lie. He believes that Vringo had initially claimed for $493 million in damages, taking six years into considerations. Of the total damages calculated, $451 million applied to only Google. The jury granted damages against Google amounting to $15.8 million. The jury granted damages against AOL amounting to $7.9 million. Whatever the math be, the jury seems to have discarded the expert witness argument of Google that royalties should not be paid, only a lump sum of $3-$5 million will suffice.

Tinker expects Google to appeal, but it may take up to 12-15 months. He thinks the search engine giant may play games the way DISH did in litigations that were brought against it by TiVo.

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Stocks To Watch: Vringo, Inc. (AMEX:VRNG), The Boeing Company (NYSE:BA)

The Boeing Company (NYSE:BA) has announced that it is on a restructuring drive where it plans to rationalize its defense, space and security businesses.

Pentagon’s second largest supplier said it will shut down some facilities in California and will consolidate many of its business units.  The company wants to cut costs of an additional $1.6 billion by 2015, in addition to the $2.2 billion cuts already achieved since 2010.

Boeing will slash 10% more executive jobs including those at the vice-president and directorial level, taking the overall job cuts since 2010 to 30 percent.

"We are raising the bar higher because our market challenges and opportunities require it, and our customers' needs demand it," said Dennis Muilenburg, CEO of Boeing Defense, Space & Security, in a memo to employees.

The U.S. government has cut spending on defense, and weapon manufacturers are cutting costs to preserve their margins.

Meanwhile shares of mobile phone software maker Vringo, Inc.(NYSEAMEX:VRNG), cracked 10 percent on Wednesday, extending its 7% fall in Tuesday’s session after the company announced that the jury had asked a few companies to pay $30 million to Vringo for infringing upon its patents.

The jury appointed by the court upheld the validity of Vringo’s patents and has ordered AOL, IAC Search and Media and Gannett to pay $15.8 million, $7.9 million, $6.6 million and $4322 respectively.

Vringo had acquired Innovate/Protect (I/P), a company which specializes in monetizing intellectual property, in March.  Before the acquisition, I/P had filed a lawsuit against a string of companies for infringing on its patents.  The lawsuit against Google Inc involves 2 patents that I/P had purchased from Lycos.

Shares of VRNG are up 5% in pre-open session.

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Vringo Extends Sell Off – VRNG, OWW, AUXL, BBY, CDE

Vringo, Inc.(NYSEAMEX:VRNG) continued to be under selling pressure for the second consecutive session and lost 8% to $3.29, although off session low of $3.03. After yesterday’s favorableruling against google, AOL and other companies, stock fell as much as 8%. The reason for the sharp fall could be because the company had been targetingmuch larger amount - $696 million.  

The company had initial blow last week as a judge came to conclusionthat the company can’t claim damages for the period before 15 September 2011, which has washed away the company’s potential claim for the past 6 years.

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Well, despite the recent fall, the stock is up 232% for the year so far. Moreover, last month it made an all time high of $5.73 and from there it has fallen about 40%.

Orbitz Worldwide, Inc.(NYSE:OWW) plunged 11.50%. Though Q3 EPS beat estimates, revenue fell short, and guidance for Q4 revenue of $183M-$189M is below a $191.1M consensus. Also, Q4 adjusted EBITDA guidance of $32M-$37M (down from Q3's $39.8M) suggests EPS could miss a consensus of $0.12. Q3 gross bookings fell 7% Y/Y, a big contrast to Priceline's 25% increase. Along with the report, Orbitz announced it has hired Sara Lee exec Mitch Marcus to be its new CFO - the company's last permanent CFO resigned in May.

Auxilium Pharmaceuticals, Inc.(NASDAQ:AUXL) slid 7.40% after terminating its collaboration agreement with Pfizer to develop the drug Xiapex, a treatment for Dupuytren's disease, in the European Union and certain other European and Eurasian countries. The agreement will terminate no later than April 24, 2013, after which rights to commercialize Xiapex will revert to AUXL.

Best Buy Co., Inc.(NYSE:BBY) surged 4.62%, recovering after slumping 25% since Richard Schulze first indicated an interest in buying the embattled retailer, a final deal price could go off much lower than the $24 to $26 range the ex-founder first indicated. Look for an initial offer to be announced next week with the company presenting to investors at its Analyst and Investor Day in New York City on November 13.

Has BBY Found The Bottom and Ready To Move Up? Find Out Here

Coeur d'Alene Mines Corporation(NYSE:CDE) showing recovery of 7% after slumping 21% in yesterday’s session on disappointing quarterly earnings. This morning, BMO Capital upgrades shares to Outperform from Market Perform based on valuation and expectations that issues at CDE's Palmarejo silver and gold mine in Mexico are temporary.

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Vringo, Inc. (AMEX:VRNG) Tumbled Another 9% Despite favourable Court Ruling Against Google Inc

A U.S. court awarded intellectual property firm Vringo, Inc.(NYSEAMEX:VRNG) $30.50 million in damages for patent violations by Google Inc(NASDAQ:GOOG) and other Internet firms.

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The violations related to patents held by Vringo's unit I/P Engine, which was acquired by Vringo. The patents were originally held by search engine Lycos, which sold it to I/P Engine.

According to the verdict issued by the jury - 1. I/P Engine had proven by a preponderance of the evidence that the defendants infringed the asserted claims of the patents.

2. The defendants, which indlueded google and AOL, had not proven by clear and convincing evidence that the asserted claims of the patents are invalid by anticipation.

Vringo had origjnally demanded nearly $700 million as damages but ultimately had to settle for a smaller sum, which was less than 5 percent of its target.

According to the jury, reasonable royalty damage should be based on a "running royalty," and the royalty rate has been set at 3.5 percent. The onetime payment of $30 million should cover Vringo for all past infringements.

Google has the highest liability at $15.8 million followed by AOL with $7.94 million, IAC with $6.65 million and the remaining being split between Gannett and Target Corp.

Whether Vringo will actually get the amount or not is debatable as Google plans to appeal the court ruling.

What is of concern here is the valuation of Vringo's patent portfolio. Vringo as well as its investors were expecting more from the litigation and the reduced pay-out does not augur well for the company.

Shares of VRNG tumbled another 8% after slumping 75 in yesterday’s session post court ruling.

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Vringo, Inc. (AMEX:VRNG) Tumbled As Investors digest latest Outcome

Vringo, Inc.(NYSEAMEX:VRNG) was looking for more than $500 million in damages in its patent lawsuit against Google Inc(NASDAQ:GOOG) and other Internet companies for violating patents held by its unit I/P Engine.

What it got was $30 million. In a ruling on Tuesday, the jury told five companies including Google to pay Vringo about $30 million for infringing on its patents.

Vringo shares tanked 10 percent after the news. It closed down 8 percent at $3.66 in New York.

The court-appointed jury upheld the validity of Vringo's patents and asked Google to pay $15.8 million, AOL $7.9 million, IAC/InterActiveCorp-owned IAC Search & Media $6.6 million and Gannett Co Inc. $4.3 million, Vringo said in a statement.

Vringo had acquired I/P in March and inherited the lawsuit which I/P had filed against AOL, Google, IAC, Gannett and Target Corp in 2011.

Google's liability in the case extends to two patents that I/P had bought from Lycos, whose founder was the original holders of the patents.

Reuters quoted Virginia courtroom sources as saying that the besides the $30 million payout in past damages the companies will also be liable to pay an additional 3.5 percent royalties on its patens until they expire in 2016.

The total payout will be more than $125 million a year for five years.

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News Alert: Vringo, Inc. (AMEX:VRNG), Jive Software Inc (NASDAQ:JIVE)

Vringo, Inc.(NYSEAMEX:VRNG) shares are having another volatile session and the stock slumped 10% after the news that the company has won the Jury’s decision on its patent case against big companies including AOL and Google Inc(NASDAQ:GOOG).

The company would get $30 million in damages and also allowed to get a royalty on Google search ad revenue through 2016, when Vringo's patent expires - some reports indicate the royalty rate is 3.5%. Google will almost certainly appeal.

Considering the stock movement, seems like investors are unhappy with the amount company has been awarded. The company was expecting $500 million in damages, however last week, a Judgesaid that VRNG can claim for damages since the date it filed the case i.e from September 15, 2011. 

Jive Software Inc (NASDAQ:JIVE) shares rose after its revenue and net loss for the third quarter beat Street estimates.  Also, the projected revenue for the fourth quarter was in line with analysts’ expectations, although the company sees greater losses than the Street expects.

Revenue for the third quarter rose 39 percent to $28.9 million yielding a net loss of 9 cents a share.  As for analysts’ calculations, the company should have earned a net loss of 11 cents a share on revenue of $28.8 million.

The company’s non-GAAP billings rose 47 percent to $38.9 million.

In this quarter, the company which makes enterprise social networking software sees revenue in the range of $30 million and $31.5 million.  Adjusted net loss is seen between 15 cents and 17 cents a share.  Analysts however, expect a loss of 9 cents a share on revenue of $31.2 million.

Three to four cents of the projected loss in the fourth quarter, is the loss that will be incurred in acquiring two companies by Jive.  One of them is Meetings.io which provides for video conferencing through a web browser; the other is Productive, which provides task management software.

Shares of the company rose 16.16% to $13.01.

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Vringo, Inc. (AMEX:VRNG) Showing Wild Moves As The News Is Out On Google’s Case

A small technology company, Vringo, Inc. (NYSEAMEX:VRNG) was granted nearly $30 million in damages and also awardedwith future royalties in its patent litigation against a few technology biggies that include AOL and Google Inc(NASDAQ:GOOG), as per a source having knowledge about the matter.

A federal jury has found that Vringo’s copyrights were valid. It has opened up the possibilities of lawsuits in the future. Vringo has been granted 3.5% running percentage rate off a portion of the defendants’ search-advertising income until the patents run out in the year 2016.

Vringo is a mobile technology and intellectual property company. it has sued AOL, Google and many others accusing them of violating two of its patent that have been used in selecting and placing advertising on Internet search results. AOL had initially settled for a fraction of the litigation in lieu of $100,000.

Vringo’s shares have moved drastically since the beginning of the patent trial earlier this month, plunging 36% on last Wednesday after the judge in the case concludedthat Vringo could not be granted a large amount of the past damages it was seeking for, quoting a long hold-up in filing its patent claim. The stock reversed itself on Monday, after a jury’s query on damages fed conjecture of a Vringo victory.

However, the infringement grant is much lesser than what Vringo had expected to get out of the trial. The company had wanted to get nearly %550 million in damages for yearly violation dating back to the year 2005. The US Distrct Judge, Raymond Jackson restricted the damages to one year, concluding that the patent holders should have filed a lawsuit much earlier to collect for all the years that have passed. The jury gave the verdict on damages using a formula that takes into account the annual revenues of the company.

Shares of VRNG have been showing wild moves after the stock resumed trading after having halted for about 2 hours. The stock was up over 7% before halt. As it reumed trading it first went up as much as 8% and then fell 7%. It is now down 5.32% to $3.74.

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Vringo, Inc. (AMEX:VRNG) shares volatile ahead of jury verdict

Last Wednesday, intellectual property firm Vringo, Inc.(NYSEAMEX:VRNG) provided an update on the on-going court case between its unit I/P Engine and a number of Internet companies which include AOL and Google.

The case is being heard in the U.S. District Court, Eastern District of Virginia, Norfolk Division.

The court ruled that under the equitable doctrine of laches, damages should be calculated beginning on September 15, 2011, the date that I/P Engine filed its complaint. I/P Engine had previously sought to have such damages calculated from September 15, 2005. The Court considered a number of motions, including defendants' motions for judgment as a matter of law as to invalidity and non-infringement, which the Court denied, according to statement by Vringo.

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After the court ruling the stock lost as much as 36 percent, as it means that the amount of potential damages is limited to about one-fifth of the $500 million Vringo had initially asked.

This morning, shares in Vringo were volatile in trading swinging between $3 and $4.42 in early trades.

"Update: The shares are halted for pending news a hour ago. Seems like some news are on the way regarding Google case. The stock was last up 7.60% to $4.25."

The jury that is deliberating on its trial with Google is reported to have asked for instructions on damages.

Seeking Alpha, which is following the case very closely, said that with each passing day the outcome of the trial seems to be getting more desperate. Google's lawyers are starting to look a lot more nervous than they did earlier.

On Monday the jury was sent home for the third day without having reached a verdict in its patent infringement suit against Google and other internet companies. The news of the jury's damages questions however resulted in the stock rising more than 42 percent.

I/P Engine sued Google, AOL, Gannett, and IAC Search & Media, claiming they have been using its patents without permission.

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