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New York, NY -- (SBWIRE) -- 12/27/2012 -- Marvell Technology Group (NASDAQ:MRVL) shares dropped more than 10% Wednesday after a federal jury ordered Marvell to pay $1.17 billion in damages in a patent infringement lawsuit brought by Carnegie Mellon University.The damage award included a jury finding that the infringement was willful, which allows the trial judge to award triple damages.The verdict was announced Wednesday in the U.S. District Court for the Western District of Pennsylvania in Pittsburgh. Shares of Marvell Technolog (NasdaqNM: MRVL) are trading at $7.40 and is -9.67% of its 50-day Moving Average price of $8.1924 and -24.19% from its 200-day Moving Average price of $9.7608. The average trading volume is 12253300 shares and its market capitalization is $3.959B.
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Tellabs, Inc. (NASDAQ:TLAB) shares gained 5.22% to $2.62. The company has announced an ex-dividend date of December 24, 2012 and a cash dividend payment of $1 per share scheduled for December 21, 2012. Shareholders who purchased TLAB stock prior to the ex-dividend date are eligible for the cash dividend payment.
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Shares of Michael Kors Holdings Ltd (NYSE:KORS) traded down 7.39% during mid-day trading on Wednesday, hitting $49.61. Michael Kors Holdings Ltd has a 52 week low of $25.50 and a 52 week high of $58.62. The company has a market cap of $9.869 billion and a P/E ratio of 42.58.
Michael Kors Holdings Ltd last released its earnings data on Tuesday, November 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.09. The company had revenue of $532.90 million for the quarter, compared to the consensus estimate of $519.31 million. The company’s revenue for the quarter was up 74.4% on a year-over-year basis. Analysts expect that Michael Kors Holdings Ltd will post $1.57 EPS for the current fiscal year.
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Coach Inc. (NYSE:COH), is a professional of fine components and gifts for women and men. Coach’s product promotions include female's and male's bag, components, business cases, shoes, wearables, jewelry, sunwear, travel purses, timepieces and perfume.COH is -3.39 - -5.89% from the previous close of $57.52. It traded between $53.88 - 57.52 with total traded volume of 5601606 shares. At Current Market Price, COH is in distance of -4.84% from its 50-day Moving Average price of $56.8803 and -5.32% from its 200-day Moving Average price of $57.1729.
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