4:15PM NovaStar profit rises 52% as net interest income jumps (NFI) by Greg Morcroft
NEW YORK (MarketWatch) -- Residential lender and mortgage Real Estate Investment Trust NovaStar Financial (NFI) said Monday its third quarter profit rose to $34.6 million, or $1.12 a share from $22.7 million, or 89 cents a share a year earlier. "We made progress during the quarter in growing production, lowering costs, and managing risks in the portfolio," Scott Hartman, CEO, said in a press release.
3:02PM Nokia: Qualcomm has yet to engage in licensing talks (NOK, QCOM) by Carla Mozee
SAN FRANCISCO (MarketWatch) -- Nokia Corp. (NOK) said Monday that it hasn't yet received a copy of a patent infringement lawsuit filed against it by Qualcomm (QCOM), alleging 12 instances of patent infringement on mobile phone equipment standards. It said Qualcomm has yet to engage in any licensing negotiations with Nokia and that Qualcomm's patents have yet to be verified. Qualcomm said earlier today that a cooperative resolution of the patent issues with Nokia is "quite unlikely" and that it must move forward with the litigation. "Companies with essential and valid patents must agree to license those patents on fair, reasonable and non-discriminatory terms," said Nokia in a statement. "It is quite unusual for a company to institute litigation before discussing such terms."
2:58PM CP Ships quarterly profit surges (TEU) by Gabriel Madway
SAN FRANCISCO (MarketWatch) -- CP Ships Ltd. (TEU) on Monday reported third-quarter earnings of $55 million, or 61 cents per basic share, vs. $31 million, or 34 cents per basic share, last year. Revenue at the U.K.-based container transporter rose to $1.08 billion from $966 million a year ago.
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