On Thursday, Shares of General Motors Company (NYSE:GM), lost -2.61% to $30.61.
General Motors Company, officials met Thursday with the leader of an activist group demanding the automaker cut financial ties with Kid Rock over the musician’s use of the Confederate battle flag, a discussion that both sides appeared optimistic about, according to AP.
Neither GM nor the Rev. Charles Williams II gave details about the meeting, but their comments indicated that some sort of resolution seemed possible. AP Reports.
“Because we have had some dialogue that seems promising, we are ongoing to meet — but we are not backing off,” said Williams, president of the National Action Network Detroit chapter.
The group has protested Kid Rock’s use of the flag. The musician’s publicist told the Detroit Free Press that he last used the flag on tour more than five years ago. Last week, Kid Rock emphatically dismissed critics’ concerns. AP added.
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments.
Shares of Rovi Corporation (NASDAQ:ROVI), declined -20.18% to $14, during its last trading session, hitting its lowest level.
Rovi Corporation, offered an update on ongoing litigation against Netflix, Inc.
Rovi has been engaged in litigation against Netflix with respect to five patents related to various features and functionality offered by the over-the-top (OTT) video service.
On July 15, 2015, Judge Phyllis J. Hamilton issued a ruling granting Netflix’s motion for summary judgment on the five patents at issue in the current litigation, finding the patents invalid on the grounds that they are not directed to patentable subject matter based upon the Supreme Court’s 2014 ruling in Alice Corp. Pty. Ltd. v. CLS Bank International. As a result, the Court has entered judgment in favor of Netflix in the case.
Samir Armaly, Rovi’s executive vice president of intellectual property and licensing, said, “While we are happy that the Court sided with Rovi on the key claim construction issues, we are disappointed in, and strongly disagree with, the Court’s decision finding the five patents invalid and plan to appeal that decision.”
“Additionally,” Mr. Armaly added, “it is important to remember that this litigation, initiated by Netflix, was filed in 2011, more than two years before the Supreme Court issued the Alice ruling on patentable subject matter. It is also important to remember that only five patents from our portfolio were at issue in this case, and Rovi’s US patent portfolio comprises more than 1,500 issued patents and pending applications. We are committed to enforcing our intellectual property against Netflix until the necessary licenses are in place. As we do so, we will be selecting patents from our diverse patent portfolio with the benefit of having the Alice decision and its reasoning factored into that patent selection.”
Rovi Corporation provides integrated solutions for the discovery and personalization of digital entertainment to service providers and consumer electronics (CE) industry worldwide.
Finally, Fifth Third Bancorp (NASDAQ:FITB), ended its last trade with 0.45% gain, and closed at $21.36.
Fifth Third Bancorp, declared that Lars C. Anderson will become its executive vice president and chief operating officer and will be joining the Company on Aug. 3, 2015. Anderson will succeed Greg D. Carmichael, Fifth Third’s president and COO, who has been named CEO effective Nov. 1. Anderson will report to Carmichael.
Anderson joins Fifth Third from Comerica, where he was vice chairman, Business Bank, a member of the Administration Executive Committee, and chair of that bank’s executive credit committee.
Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through four segments: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors.
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