On Friday, Alibaba Group Holding Ltd (NYSE:BABA)’s shares inclined 6.58% to $75.66.
Alibaba Group (BABA) declared that Ocean Spray, a renowned American agricultural cooperative of cranberry and grapefruit farmers, has opened its first online flagship store in China on Alibaba Group’s Tmall Global platform (oceanspray.tmall.hk).
Ocean Spray, one of the world’s leading producers of cranberry juices, juice drinks and dried cranberries, will also take part in Alibaba Group’s 11.11 Global Shopping Festival for the first time.
Formed in 1930, Ocean Spray is built on the foundation of taste, health and heritage. For 85 years, it has brought consumers around the world the highest-quality products from farm to table. Now, Ocean Spray is leveraging the unparalleled scale and reach of Alibaba’s ecosystem to share the cranberry’s unique taste and exceptional health benefits with Chinese consumers as they demand high-quality food and health products from overseas.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Oracle Corporation (NYSE:ORCL)’s shares gained 0.74% to $38.07.
Following its recent jury trial victory against Rimini Street, Oracle ( ORCL) has asked the trial judge in Nevada to issue a permanent injunction against Rimini Street, which would restrain Rimini from ongoing its practice of copyright infringement and violations of state laws protecting computer systems.
The jury reached its verdict on October 13, following a three and a half-week trial, and awarded Oracle $50 million in damages against Rimini Street and its CEO Seth Ravin. The jury’s findings confirmed Oracle’s long-maintained claim that Rimini and Ravin built a business through pervasive and unauthorized downloading and copying of Oracle software and support materials. The jury unanimously found that:
- Rimini Street infringed Oracle’s copyrights for every product line at issue in the case: PeopleSoft software and documentation, J.D. Edwards software and documentation, Siebel software and documentation, and Oracle Database software.
- Rimini Street owes damages for infringing every copyright registration put to the jury, totaling 93 different copyrights.
- Rimini Street is liable for over $14 million in damages for violating both the California Computer Data Access and Fraud Act and the Nevada Computer Crimes Law.
- Seth Ravin personally violated both the California Computer Data Access and Fraud Act and the Nevada Computer Crimes Law and is individually liable for over $14 million in damages.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports database and middleware software, application software, cloud infrastructure, hardware systems, and related services worldwide.
At the end of Friday’s trade, American Express Company (NYSE:AXP)‘s shares surged 2.88% to $74.59.
American Express Company (AXP) declared a semiannual dividend on the Company’s 5.200% Fixed Rate / Floating Rate Noncumulative Preferred Shares, Series B, of $26,000.00 per share (which is equivalent to $26.00 per related Depositary Share).
The dividend is payable on November 15, 2015 to shareholders of record on November 6, 2015.
American Express Company, together with its auxiliaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide.