Market Minute: Apple Wins a Court Battle; Lawsuit Puts Deere in Its Sights

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Apple won another round in its patent battle with South Korean rival Samsung, as both companies prepare to roll out new phones. Those and more are what's in business news Monday.

The Dow Jones industrial average (^DJI) fell 1.5 percent last week, ending a streak of six straight weekly gains. the Standard & Poor's 500 index (^GPSC) also lost more than one percent, and the Nasdaq composite index (^IXIC) lost nearly 1 percent.

The U.S. International Trade Commission ruled late Friday that Samsung had violated parts of two Apple (AAPL) patents on digital mobile devices. The ruling prohibits Samsung from importing or selling certain devices, but President Obama has 60 days to veto it. And he did just that earlier this month to block a ruling that would have barred Apple from selling some products.

Apple iphone 5s samsung court battle patents smartphone tablet
Alexander F. Yuan/AP
Separately, Apple reportedly will debut its next generation iPhone on Sept. 10. It's expected to show off an iPhone 5S, as well as a lower cost phone. Meanwhile, Samsung could unveil its new Galaxy model the week before.

A hedge fund filed suit late Friday against tractor maker Deere & Co. (DE) and the GPS firms Garmin (GRMN) and Trimble Navigation (TRMB), seeking $1.9 billion in damages. The fund owns the bankrupt wireless firm Lightsquared. Its suit accuses the defendants of fraud in the way they opposed Lightsquared's effort to build a wireless network. That led the Federal Communications Commission to withdraw its permit to build a high-speed network because it interfered with GPS systems.

Retail stocks will be in focus this week. First, this is a critical period for back-to-school sales, which is second only to the December holidays in importance to the industry. In addition, Walmart Stores (WMT), Macy's (M), Nordstrom (JWN) and Kohl's (KSS) report earnings.

And J.C. Penney (JCP) continues to be roiled by a nasty internal fight. One director, Bill Ackman, last week called for the ouster of the company's CEO. Now the rest of the board wants to take action against Ackman for releasing confidential boardroom deliberations, according to The Wall Street Journal (subscription required).

And Walt Disney (DIS) is dropping hints that it will use "Star Wars" as the theme for its next big renovation of its theme parks.

-Produced by Drew Trachtenberg.


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13 Comments

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Iselin007

You don't need an 18 hole golf course to play golf all you need is to toss a ball around the board room.

August 12 2013 at 12:20 PM Report abuse rate up rate down Reply
Iselin007

Do you really need a sattelite photo to see the mess this country is in? I don't need a speech on the economy sh--head; I need a job!

August 12 2013 at 12:12 PM Report abuse +1 rate up rate down Reply
1 reply to Iselin007's comment
Iselin007

Boy you are the most negative person I ever met! :D

August 12 2013 at 12:13 PM Report abuse +1 rate up rate down Reply
1 reply to Iselin007's comment
Iselin007

When low wage sectors depend on low wage sectors to expand you know the country is in trouble.

August 12 2013 at 12:17 PM Report abuse rate up rate down
Iselin007

Did the trade deals save the jobs of US citizens or give them new ones? How come all the new jobs are filled by foreign nationals on visas? Come to my town an I'll show you what the trade deals and visas did here.

August 12 2013 at 12:08 PM Report abuse rate up rate down Reply
Iselin007

Optimism abounds an so does bird droppings.

August 12 2013 at 11:59 AM Report abuse -1 rate up rate down Reply
Iselin007

Be all you can be then when you come back nobody wants you!

August 12 2013 at 11:57 AM Report abuse rate up rate down Reply
Iselin007

I don't own an Iphone an I don't believe the service economy will allow much more growth in the consumer market. It's like the guy who lives in a card board box but has a Cadillac parked outside.

August 12 2013 at 11:55 AM Report abuse -1 rate up rate down Reply
Iselin007

The communication companies are gutting their workforce as the web sites they have up are losing consumers who have just given up for one reason or another. Deal.com filed for bankruptcy an I am sure many more of these little known companies are struggling or preparing for the food stamp world.

August 12 2013 at 11:47 AM Report abuse -1 rate up rate down Reply
Iselin007

Anyone that wants a Iphone that can afford one has one but some were purchased at the cost of giving up other stuff. A tech crash is brewing as business fights for ever thinning consumer dollars. The law suits won't matter even the winner will still suffer from the coming tech crash.

August 12 2013 at 11:39 AM Report abuse rate up rate down Reply
Iselin007

I noticed the other finance news is not excessable so I came here. :D

August 12 2013 at 11:33 AM Report abuse rate up rate down Reply
bruelkjaer

all bullshit!

August 12 2013 at 10:13 AM Report abuse +1 rate up rate down Reply
1 reply to bruelkjaer's comment
Iselin007

You might as well say it few would believe differently.

August 12 2013 at 11:40 AM Report abuse rate up rate down Reply