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Palm, Inc. (Nasdaq: PALM) Closed at $6.02. Today announced that it increased the size of its previously announced public offering of common stock to approximately 23.125 million shares, including approximately 18.5 million common shares underlying 49% of the units of Series C preferred stock and warrants acquired by Elevation Partners in January 2009. The public offering price per share will be $6.00. Upon the closing of the offering, Palm will receive net proceeds of approximately $83.9 million. Palm expects to use the proceeds to strengthen its working capital position and to further bolster the resources it is devoting to the launch of the Palm Pre and future product-development efforts.
What They Do: Palm provides mobile products for individual users and business customers worldwide.
How They Trade: PALM has a 52 week high of $9.51 and a 52 week low of $1.14.
Rambus (Nasdaq: RMBS) Closed at $7.89. Today announced that it has agreed in principle to terms for a compulsory license with Hynix Semiconductor for SDR SDRAM and DDR SDRAM memory products. The parties have agreed to royalty rates of 1% for SDR SDRAM and 4.25% for DDR SDRAM memory devices for net sales after January 31, 2009 and before April 18, 2010. The latter rate applies to DDR, DDR2, DDR3, GDDR, GDDR2 and GDDR3 SDRAM devices, as well as DDR SGRAM devices. In addition, a proposed final judgment of $349M in damages, plus pre-judgment interest of approximately $48M has been submitted to the U.S. District Court for the Northern District of California. The final amount of pre-judgment interest depends on the date final judgment is entered. Damages and royalty rates are limited to U.S. infringements.
What They Do: Rambus is one of the world's premier technology licensing companies specializing in the invention and design of high-speed memory architectures.
How They Trade: RMBS has a 52 week high of $26.41 and a 52 week low of $4.95.
Endologix (Nasdaq: ELGX) Closed at $1.43. Today announced U.S. Food and Drug Administration (FDA) approval of the IntuiTrak Express Delivery System for the Powerlink XL stent graft. The IntuiTrak Express incorporates novel design, delivery and deployment features and enables delivery of the Powerlink XL stent graft through the IntuiTrak 19Fr introducer sheath during the endovascular repair of abdominal aortic aneurysms (AAA) in patients with aortic necks up to 32mm in diameter.
Approval of the IntuiTrak Express provides additional treatment options to physician users and includes a 21Fr IntuiTrak stand-alone delivery system for the Powerlink XL stent grafts that incorporates its own integrated, hydrophilically coated introducer sheath with advanced hemostasis control.
What They Do: Endologix, Inc. develops and manufactures innovative therapies for aortic disorders. The company’s IntuiTrak System is an endovascular stent graft for treating abdominal aortic aneurysms (AAA). AAA is a weakening of the wall of the aorta, the largest artery in the body, resulting in a balloon-like enlargement.
How They Trade: ELGX has a 52 week high of $3.23 and a 52 week low of $0.85.
MarketAxess Holdings (Nasdaq: MKTX) Closed at $6.49. Today announced that its method for the electronic negotiation and trading of lists of financial instruments has been awarded United States Patent 7,499,883, titled "Electronic inquiry lists for financial products."
MarketAxess' inquiry lists technology allows investors to electronically trade a diverse portfolio of securities or derivative instruments through an auction process with a broad cross-section of market participants. Competitive bids and offers are electronically communicated to the initiating party in order to improve efficiency and reduce transaction costs.
What They Do: MarketAxess operates one of the leading platforms for the electronic trading of corporate bonds and certain other types of fixed-income securities, serving as an electronic platform through which approximately 650 active institutional investor clients can access the liquidity provided by 48 broker-dealer clients.
How They Trade: MKTX has a 52 week high of $11.74 and a 52 week low of $3.96.
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