A federal judge ordered the Marvell Technology Group Ltd. (NASDAQ:MRVL) to pay about $1.54 billion to Carnegie Mellon University for selling billions of semiconductors that infringed the school’s two hard disk drive patents. While that amount is 31 percent more than the $1.17 billion initially awarded by a jury in Dec. 2012, it was less than half the maximum $3.75 billion that Carnegie Mellon sought. Marvell Technology Group Ltd. (NASDAQ:MRVL) shares after opening at $16.31 on last trade day and at the end of the day closed at $16.20. Company price to sales ratio in past twelve months was calculated as 11.42 and price to cash ratio as 6.62. Marvell Technology Group Ltd.(NASDAQ:MRVL) showed a positive weekly performance of 2.82%.
Studio One Media, Inc. (NASDAQ:ONNN) has entered into an agreement with ON Semiconductor Corp (NASDAQ:ONNN) to develop integrated circuits (ICs) utilizing Studio One’s award-winning AfterMaster™ audio technology and ON Semiconductor’s DSP product development expertise. ON Semiconductor Corp (NASDAQ:ONNN) shares advanced 0.53% in last trading session and ended the day on $9.45. ONNN return on equity ratio is recorded as 10.50% and its return on assets is 4.60%. ON Semiconductor Corp (NASDAQ:ONNN) yearly performance is 21.15%.
Following the end of the ‘go-shop’ period on March 27, 2014, as agreed to by Safeway Inc. (NYSE:SWY) and AB Acquisition LLC, Safeway’s ratings remain on Rating Watch Negative. Fitch’s current Issuer Default Rating (IDR) for Safeway is ‘BBB-‘. A full rating list is shown below. Fitch expects to downgrade Safeway Inc. to the ‘B’ category assuming the acquisition of the company by AB Acquisition is completed as proposed. Fitch expects to take a final rating action after the financial structure for the combined entity is clarified and regulatory approvals have been obtained. The transaction is subject to Federal Trade Commission (FTC) and shareholder approval, and is expected to close in the fourth quarter. Safeway Inc. (NYSE:SWY) shares moved up 2.30% in last trading session and was closed at $37.79, while trading in range of $36.93 – $37.90. Safeway Inc. (NYSE:SWY) year to date (YTD) performance is 16.64%.
Kinross Gold Corporation (USA) (NYSE:KGC), Canada’s third-largest producer of the metal, released a feasibility study for its Tasiast gold mine expansion in Mauritania with a lower-than-previously-estimated capital cost, but said it does not plan to make a final decision on the project until 2015 at the earliest. Kinross Gold Corporation (USA) (NYSE:KGC) weekly performance is -7.35%. On last trading day company shares ended up $4.16. Kinross Gold Corporation (USA) (NYSE:KGC) distance from 50-day simple moving average (SMA50) is -14.30%. Analysts mean target price for the company is $5.77.