Friday, March 6, 2015

InterDigital shares could retreat after no deal emerges

The King of Prussia wireless technology firm ended a strategic review without receiving a bid for the entire company.

InterDigital shares could retreat after no deal emerges

Look for shares of InterDigital to fall sharply at the opening of the U.S. stock market Tuesday.

The King of Prussia wireless technology company ended a six-month strategic review by choosing to remain independent, having not received any bids for the entire company. InterDigital undertook the review, hiring investment bankers in July, following a flurry of patent-driven deals involving Google, Apple and other big tech firms.

Speculation that InterDigital's extensive portfolio of 19,500 patents would attract a rich bid had dragged its shares above $75 per share last August. Shares closed Monday at $44.45.

DuPont Co. reported flat earnings for Q4 with $373 million, or 40 cents per share. However, for the full year, the Wilmington chemical company said that it had record earnings of $3.5 billion, or $3.68 per share, for 2011, compared with $3.50 billion, or $3.28 per share, for 2010.

In its statement, DuPont maintained its earnings projections calling for a 12 percent rise in 2012 to $4.20 to $4.40 per share. Here's a link to the AP story.

Allentown-based Air Products & Chemicals also said its earnings were flat for Q4, but you know you need to read the footnotes when each profit figure mentioned in the first paragraph of the news release carries an asterisk. (The company focused on its non-GAAP results.)

Air Products' net income for Q4 was $248.1 million, or $1.16 per share, down from $268.6 million, or $1.23 per share, for the same quarter of 2010.

Mike Armstrong Inquirer Columnist
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist
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