Vringo, Inc. Gains Some Ground (VRNG, CRUS, GLNG, ROST, GM)

Vringo, Inc.(NYSEAMEX:VRNG) shares continued to show high volatility in Thursday’s session after a slump of 36% in the previous trading session. Yesterday, the stock saw a slump of as much 59% at around 3 PM to $1.75 and then recovered back to $2.56 level. Following the couple of circuit breaks, the stock was halted for the final hour for pending news.

After the market close, the company announcedthat the court has came to conclusion that VRNG can’t claim any damages against Google for the period before September 15, 2011 and hence the damages should be calculated beginning on September 15, 2011. So what VRNG has lost potentially? If the company win the ruling, it have to forgo 5 years of potential claims. Although, the amount of damages are still uncertain the company is owed $500 million, as Vringo said.

Shares of VRNG are up 10% to $2.82 after moving within a wide range of $2.17-$3.06 in today’s session so far.

Cirrus Logic, Inc.(NASDAQ:CRUS) shares slumped 10% to $36.73, although off session low of $34.12. The negative stock movement is bit surprising considering the company posted solid third quarter earnings and guided above analysts’ target for the current quarter. The only problem seems logical is the company’s estimate of falling margin to  50% and 52% in the current quarter from 52%  last quarter, because, as the company detailed in an accompanying letter to shareholders, Cirrus is encountering higher-than-expected costs from new parts and “increased pricing pressure.”

This morning, analyst at Feltl & Co. downgraded the stock  to Hold from Strong Buy and trimmed the price target by $10 to $44, stating that getting an increasing amount of business from Apple — it was 79% of revenue last quarter — may produce pressure on prices for an extended period.

Golar LNG Limited (USA)(NASDAQ:GLNG) rose 11% after an SEC filing announces it reached an agreement with Keppel Shipyards to develop its first floating liquefied natural gas production vessel. GLNG has already converted three Moss carriers into floating storage and regasification units, of which Keppel has converted two.

Ross Stores, Inc.(NASDAQ:ROST) lost 7%  after the retailer issues a sales report and guidance a bit too soft for what investors seemed to be expecting. On a prerecorded sales call, the company says Juniors and Accessories were its best-performing category in Q3 as it boosts its EPS outlook to $0.71 to $0.72 for the period.

General Motors Company(NYSE:GM) October U.S. sales: +4.7% to 195,764, falling short of the consensus estimate of 7.8%. GM passenger cars were up 15% Y/Y, outpacing sales of crossovers and trucks easily. On the retail side, Buick sales rose 15.4% and Cadillac was up 16%, offsetting a sluggish 4.6% gain in Chevrolet. The automaker reports a 98 day supply of inventory.

Yesterday, the stock was up 9% on robust earnings.

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Vringo, Inc. (AMEX:VRNG) Jumps Another 17% - RAD, VRNG, BP, ZUMZ, ROST

Rite Aid Corporation(NYSE:RAD) shares climbed 0.43% to $1.15 in the early hour after the company announced monthly sales For the four weeks ended Sept. 29, 2012, same store sales decreased 0.7% over the prior-year period. September front-end same store sales increased 2.8%. Total drugstore sales for the four-week period decreased 1.5% to $1.899 billion compared to $1.927 billion for the same period last year.

On Sept. 29, 2012, the company operated 4,639 stores compared to 4,694 stores in the like period a year ago.

Vringo, Inc.(NYSEAMEX:VRNG) shares jumped 17% to $5.02 after a judge yesterday denied Google Inc a motion for summary judgment in a patent dispute. Google was sued by Innovate/Protect Inc, which was acquired by Vringo. Vringo is seeking an award of at least $696 million from Google. Yesterday, the stock was up 39%.

Will VRNG Hit $6 Before The case Date? Find Out here

Additionally, the company, on Sept.26, Vringo filed an 8-k with the SEC challenging ZTE to license patents for technology ZTE has been using since 2002. The patents cover Vringo's proprietary technologies that are considered essential to infrastructure equipment and mobile stations compliant with GSM and GPRS specifications.

BP plc (ADR)(NYSE:BP) shares declined 0.45% to $42.06 in the morning hour after Energy Minister John Hayes said that Britain's gas production is set for a 3% boost next year from current levels after BP's Devenick North Sea gas field started production. BP and RWE Dea, which owns 11.3% of the field, spent 650 million pounds ($1.04 billion) on the project, where appraisal well drills between 1986-2001 indicated around 430 billion scf of gas was in place at the site.

Additionally, BP‘s stock had its “neutral” rating reaffirmed by research analysts at Exane BNP Paribas in a report released today. They currently have a $8.04 (500 GBX) target price on the stock.

Zumiez Inc.(NASDAQ:ZUMZ) stock increased 0.58% to $26.18. The company, this week, said its September same-store sales rose 5.6%. That beat the 3.2% average estimate of analysts. Additionally, Zumiez‘s stock had its “neutral” rating reiterated by equities research analysts at Piper Jaffray in a research note issued to investors yesterday. They currently have a $27.00 price target on the stock.

Ross Stores, Inc.(NASDAQ:ROST) stock fell 1.37% to $65.75 after the company announced that earnings per share for the third quarter of 2012 are now projected to be in the range of $.70 to $.71. Guidance for the remainder of 2012 is unchanged. October same store sales are forecast to be up 3% to 4%. For the fourth quarter of 2012, the Company continues to project same store sales to be up 1% to 2%, EPS remains in the range of $.99 to $1.04, which includes an estimated $.08 to $.09 benefit from the 53(rd) week this year.

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