Network-1 Tech (NTIP) Settles Patent Battle with Apple (AAPL); RELM Wireless (RWC) Eyes Opportunity In Iteris (ITI)
Network-1 Technologies Inc. (NYSEMKT:NTIP) shares climbed over 15% to touch a new 52-week high in after-hours trading Friday as the company said that its subsidiary Mirror World Technologies, Inc. agreed to settle its patent infringement lawsuit versus tech giant Apple Inc. (Nasdaq:AAPL). As part of the deal, Network-1 will receive $25 million from the iPhone maker
NTIP stock finished the regular session at $2.82, up $0.07 (or +2.54%) and 242,971 of its shares changed hands during the day, representing a large increase in activity versus its average volume (3m) of 47,716
Network-1 Technologies, which is engaged in the development, licensing and protection of its property assets, has 23.30M Shares Outstanding. At close on Friday, the company had a Market Capitalization of $65.69M and NTIP stock one-year range was from $1.49 to $2.99 per share
Shares of Iteris, Inc. (Nasdaq:ITI) touched a new 52-week high of $3.49 in intraday trading Friday, finally closing at $3.40, up $0.23 (or +7.26%)
After the closing bell, two-way radio communications-equipment provider RELM Wireless Corp. (NYSEMKT:RWC) disclosed in a regulatory filing ( SC 13D/A ) with the U.S. Securities and Exchange Commission (SEC) that it has increased its ownership in Iteris to 2,295,519 shares (or 7.2% stake) from the 1,903,516 shares (or 5.9% stake) recently reported ( SC 13D/A ) with the government agency.
Iteris, which provides intelligent information solutions to the traffic management market worldwide, has 32.06M Shares Outstanding, Market Capitalization (intraday) of $109.00M and ITI stock one-year range is now between $1.66 and $3.49 per share
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