Supreme Court Rejects Apple e-book Appeal

Mukesh Buch
07 Mar, 2016
New York City

Apple Inc may have to pay $450 million in fines and fees linked to e-books price-fixing inquiry. Federated National net declined 7% but revenues surged 30%. Greif net swung to a loss. Lumos Networks plunged 21%. Superior Industries Intl jumped after profit soared.

[R]11:45 AM New York – Apple Inc may have to pay $450 million in fines and fees linked to e-books price-fixing inquiry. Federated National net declined 7% but revenues surged 30%. Greif net swung to a loss. Lumos Networks plunged 21%. Superior Industries Intl jumped after profit soared.[/R]

Tollbooth Index slipped 44.78 or 0.4% to 10,420.52.

Earnings Review

Apple Inc ((AAPL)) fell $1 to $102.01 after the U.S. Supreme Court rejected appeal from the computer and electronic products maker challenging the decision from the appellate court related to e-book price fixing with five publishers.

Federated National Holding Co ((FNHC)) tumbled 11.9% or $2.87 to $21.26 after the insurance company said total revenues in the fourth-quarter ending in December surged 30.3% from a year ago to $63.6 million.

Net income in the quarter declined 7% to $9.3 million or 66 cents per diluted share compared to $10 million or 72 cents per share from the same quarter last year.

Greif, Inc ((GEF)) soared 6.3% or $1.74 to $29.46 after the industrial packaging products maker reported net sales in the first-quarter ending in January plummeted 14.5% from a year ago to $771.4 million.

Net in the quarter swung to a loss of $11.1 million or 19 cents per diluted share compared to profit of $30.1 million or 30 cents per share from the same quarter last year.

Lumos Networks Corp ((LMOS)) jumped 4.5% or 57 cents to $13.09 after the fiber-based bandwidth infrastructure and service provider stated total revenues in the fourth-quarter ending in December rose 2% from a year ago to $51.9 million.

Net income in the quarter plunged 20.6% to $2.7 million or 12 cents per diluted share compared to $3.4 million or 15 cents per share from the same quarter last year.

Superior Industries International Inc ((SUP)) surged 8.1% or $1.73 to $23.07 after the cast aluminium wheels supplier reported net sales in the fourth-quarter ending on December 27 fell 2.3% from a year ago to $171 million.

Net income in the quarter soared to $8.1 million or 31 cents per diluted share compared to $1.4 million or 5 cents per share from the same quarter last year.