Billionaire investor Carl Icahn urged Motorola (MMI.N) to shop around its patent portfolio to cash in on interest in wireless technology from companies like Google Inc (GOOG.O) and Apple Inc (AAPL.O). Shares of Motorola Mobility Holdings Inc rose as much as 23 percent on Thursday as investors bet on a high valuation for the patents, after a hotly contested Nortel patent auction fetched $4.5 billion in early July. Shares of InterDigital Inc (IDCC.O), another big wireless patent holder, have gained nearly 80 percent since it said it would review its options this week. Icahn, Motorola's biggest shareholder with an 11.36 percent stake, started talks with the company on Wednesday about exploring "alternatives regarding its patent portfolio to enhance shareholder value," according to regulatory filing.
Motorola Mobility Holdings, Inc. is a provider of technologies, products and services that enable a range of mobile and wireline digital communication, information and entertainment experiences. Shares of MMI traded higher by 12.41% or $2.78/share to $25.19. In the past year, the shares have traded as low as $20.77 and as high as $36.54. On average, 3344260 shares of MMI exchange hands on a given day and today's volume is recorded at 25088988.
Google Inc. (Google) is focused on improving the ways people connect with information. Shares of GOOG traded higher by 1.96% or $11.64/share to $606.99. In the past year, the shares have traded as low as $447.65 and as high as $642.96. On average, 2873710 shares of GOOG exchange hands on a given day and today's volume is recorded at 3468011.
Apple Inc. (Apple) designs, manufactures and markets a range of personal computers, mobile communication and media devices, and portable digital music players, and sells a range of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL traded higher by 0.1% or $0.39/share to $387.29. In the past year, the shares have traded as low as $235.56 and as high as $396.27. On average, 15089200 shares of AAPL exchange hands on a given day and today's volume is recorded at 18785230.
InterDigital, Inc. (InterDigital) is a holding company, and its various subsidiaries engage in technology research and development activities or in the prosecution, maintenance, enforcement, and licensing of patents. Shares of IDCC traded higher by 8.15% or $5.6/share to $74.27. In the past year, the shares have traded as low as $24.39 and as high as $70.00. On average, 1051620 shares of IDCC exchange hands on a given day and today's volume is recorded at 12004949.
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