It’s a fact that a surge in a company’s stock volume can come from positive or negative news.
On Feb. 13 it was no different as a lawsuit and an acquisition helped spark an uptick in volume of the most active stocks.
Files Lawsuit Against Under Armor
Adidas AG (OTCQX: ADDYY) share volume soared Feb. 14 with 61,843 shares changing hands, nearly double its three-month average stock volume of 33,999 shares.
The uptick in volume was triggered in part by the recent news that the German-based athletic and sport apparel maker filed a lawsuit against one of its chief competitors Under Armour Inc. Filed Feb. 4, the lawsuit claimed that Under Armour’s exercise tracking and fitness monitoring equipment infringe on Adidas’ patents.
According to the lawsuit, Under Armour allegedly infringed on 10 patents used in the Adidas’ fitness tracking system called miCoach.
The German company holds patents for technology including mobile applications products that monitor heart rates and calories burned during a work out, according to the company’s complaint filed as AG v. Under Armour Inc., 14-cv-00130 in U.S. District Court, District of Delaware in Wilmington.
The lawsuit specifically claims that Under Armour’s MapMyFitness and other products copy Adidas’ products. Adidas is seeking a jury trial and a court order to halting Under Armor’s sale of the products. The lawsuit also states that Adidas wants to receive a reasonable royalty and for Under Armour to provide triple damages because of its alleged wilful infringement.
The Baltimore-based Under Armour has not yet officially responded to this lawsuit.
On Feb. 13, ADDYY share price closed at 59.44 cents, up 77 cents from its closing price of $58.67 cents the previous day.
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Acquires T-Mobile Czech Republic
Deutsche Telekom AG (OTCQX: DTEGY) was also a very active stock Feb.13, with 2,084,406 shares changing hands, nearly five times its three-month average volume of 448,137 shares.
The increase in volume comes on the heels of news Feb 10 that the German telecommunication company is acquiring all remaining shares of T-Mobile Czech Republic for about $1 billion.
Deutsche Telekom said it was purchasing the 39.23% stake in the company from a consortium of investors led by funds managed or advised by private equity group Mid Europa Partners. Telekom added that the acquisition of the remaining shares is a natural step to full ownership of what was already a controlled subsidiary.
According to Deutsche Telekom, the move will enable a simplification of T-Mobile Czech Republic's capital and governance structure and save the company money. The transaction is expected to close by the end of February.
On Feb. 13, DTEGY share price closed at 16.46 cents, up 41 cents from its closing price of $16.05 cents the previous day.
Find out what could be the best investor’s move when it comes to DTEGY by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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Makes Lackluster Debut
On Feb. 13, Technicolor (OTCQX: TCLRY), a French media and entertainment company, made its lackluster debut on OCTQX, with just 986 shares changing hands, well below its three-month average volume of 3,491 shares.
It could be that potential investors are waiting for any news that might be made when Technicolor holds a scheduled investors’ conference call on Feb. 20 at 3 p.m. CET.
Technicolor is a worldwide technology company in the media and entertainment sector. It produces advanced video products, services and solutions to content creators and distributors. Technicolor also generates revenue from its intellectual property portfolio focused on video and audio technologies and a licensing business.
On Feb. 13, TCLRY share price closed at $5.56 cents, up 3 cents from its closing price of $5.56 cents the previous day.
Find out what could be the best investor’s move when it comes to TCLRY by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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