Vringo Retreat After The Court Decision (VRNG, AKS, FN, MU, JMBA)

Vringo, Inc.(NYSEAMEX:VRNG) has finally witnessed  a victory in its patent suit against Google (GOOG). The company would be entitled to get $30M in damages and 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.

It has been reported that Google will pay $15.9 million, AOL (NYSE: AOL) will pay $7.9 million, IAC (Nasdaq: IACI) will pay $6.6 million, Target (NYSE: TGT) will pay $98,800 and Gannett (NYSE: GCI) will pay $4,000.

The company was expecting damaged to the extent of $500 million, but a Judge ruled out recently and stated the company would get claim beginning on September 15, 2011.

Shares of VRNG resumed trading and slumped 6% after gaining 7.70% before the halt at around 12.30 PM.

AK Steel Holding Corporation(NYSE:AKS) shares soared 6.50% after the company announced last night that it would increase prices for all carbon steel products by $50/ton.

Fabrinet(NYSE:FN) surged 33% after reporting FQ1 revenue of $158.6M (-15% Y/Y) and EPS of $0.36, soundly beating a consensus of $147M and $0.31. FQ2 guidance is for revenue of $159M-$163M and EPS of $0.35-$0.37, above a consensus of $154M and $0.33. The news is lifting some optical component names, due to Fabrinet's status as a top contract manufacturer for the industry.

Micron Technology, Inc.(NASDAQ:MU) surged 6.50% after Taiwanese DRAM vendors Nanya and Inotera report M/M increases of 20.4% and 5.7%, respectively, for their October revenue. On a Y/Y basis, both companies, who have been bleeding cash, saw their sales decline. Meanwhile, Powerchip continues to shift manufacturing capacity away from PC DRAM, something that could improve the depressed market's supply/demand balance.

Jamba, Inc.(NASDAQ:JMBA) plans to follow up on its first year of profitability as a public company with a sweeping plan to grow sales and traffic. For the full-year, the company sees opening 40-50 Jamba Juice system stores, up to 15 international stores, 400-500 JambaGO automated outlets, as well as three spanking-new concept stores. In terms of numbers, the company has a leg up on Starbucks' Evolution Fresh juice business, but the juice market looks to be heating up with more competition

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AK Steel Holding Corporation (NYSE:AKS) feels the economic lag

The economic conditions worldwide have been very bad in the last couple of months, specially. Many companies are suffering as the result of the slow-moving degeneration of the current economic conditions.  AK Steel Holding Corporation(NYSE:AKS) showed losses during the third quarter which have exceeded their expectations. During the third fiscal quarter this year, the losses have grown to amount to about $60.9 million, mostly because of the drop in the price of steel.

The results have shocked the company, and they have also managed to surpass the Wall Street Journal’s predictions. The losses have exceeded these predictions, and the brunt of the losses was immediately felt as the share-prices dropped very low during morning trading itself. The company, which is based in West Chester in Ohio, saw the result of the lowered third quarter earnings when 55 cents per share is the loss which the company has incurred this time, as compared to the 3 cents loss in 2011. The revenue of the company too, has fallen. It currently stands at $1.46 billion, after a 7.7 percent drop. The analysts had been rooting for 35 cents worth drop in share prices, and revenue of $1.48 billion.

The prices for steel and steel shipments have gone down drastically. The shipments have seen the flat-lining of 1.4 million tons, with the prices dropping down and getting lower. With the steel shipments being set at $1,073 per ton, the prices have definitely shaken up AK Steels. The prices are being affected badly because of the economic issues which are being felt on a global level right now. While the prices are going down, the companies are seeing the costs increase for getting the raw materials. The fourth quarter earnings are also not looking too good. Both the company and the analysts are expecting SK Steels to face a decrement. Analysts are pegging it at 11 cents per share. The company has not revealed the guidance for the fourth quarter yet.

AK Steels saw a drop in share prices to about $5.19 for each share, down about 5% in Tuesday’s session.

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Steel Stocks Fall On Negative Outlook – AKS, X, STLS, MT, NUE

Viewing the detritions in the fundamental business conditions in the U.S steel industry over the next 12 to 18 months, Moody's Investors Service has changed its rating from “Stable” to “Negative” for the US steel industry.

Import represents risk, as US steel demands are not enough to meet its sustainability over 12 to 18 months, viewed Moody.

Moody's says in the new report, "US Steel Industry Outlook Turns Negative on Weakening Fundamentals."

 As manufacturing and industrial activity are slowing down the US Institute of Supply Management's Purchasing Management Index (PMI) has stayed just below 50 for each of the three months through August resulting in cumbers economic conditions. This will impact demand for steel.

Will The Steel Sector rebound? Find Out Here

 Senior Credit Officer, Carol Cowan, and a Moody's Vice President said: "While capacity utilization levels remain above 70%, they have slowed since peaking in April 2012 and will likely continue at lower levels."

The sovereign debt and banking crisis in Europe and slow GDP growth in China, and increasing rate of steel imports in U.S are major reasons those has to be taken into consideration.

"While the increased import levels do not affect all areas of the industry equally, they continue to disrupt a market that has not yet returned to historical run rates," says Cowan. "With slowing demand globally, imports will remain problematic."

An increased reading of Purchasing Management Index above 55 and expectations for sustained capacity utilization above 80% could lead to a positive outlook, Moody's says. 

AK Steel Holding Corporation(NYSE:AKS)slid 1% to $4.85, ArcelorMittal (ADR)(NYSE:MT) slid 1%, Steel Dynamics, Inc.(NASDAQ:STLD) down 0.50%, Nucor Corporation(NYSE:NUE) jumped 1% and United States Steel Corporation(NYSE:X) fell 1%.

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