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Apple Inc’s (NASDAQ:AAPL) $1.05 billion decision against the Suwon, South Korea-based Samsung Electronics Co in a patent violation case was cut almost 45% by a judge who ordered a new inquiry on damages for few Samsung products after finding the jury erred.
United States District Judge Lucy Koh in San Jose, California on Friday shattered the jury’s damages award by $450.5 million. Apple spokesman Steve Dowling did not responded on the ruling. Similarly, spokesman for Samsung Adam Yates didn’t immediately respond to an e-mail looking for comment on the verdict.
Pepco Holdings, Inc’s (NYSE:POM) reported fiscal Q4 earnings moved up over doubled as the company booked lower costs and stronger margins. However, revenue came in lower than Wall Street forecasts.
The power company announced a profit of $43 million or 18 cents per share for fiscal Q4, evaluated against a profit of $19 million or 10 cents per share in same period previous year.
EPS surged to 19 cents without special items from 15 cents. Total operating revenue moved down 9.5% to $1.13 billion. Thomson Reutersanalysts survey most recently estimated EPS of 19 cents on $1.39 billion of revenue.
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