U.S. Steel (X) shares +4.3% in what seems like somewhat of a delayed reaction - if indeed it is that - to the appointment yesterday of Mario Longhi as COO to replace John Goodish, who retired in late 2010. Shares have climbed 14% over the past month, but are still down over 50% since July 2011.
MIPS (MIPS -2.1%) trades lower after reaching a patent licensing deal with Broadcom (BRCM +0.6%). In exchange for $26.5M plus "other consideration," Broadcom obtains a non-exclusive license for the use of MIPS' IP in its products. In addition, Broadcom, which has long used MIPS' CPU cores in its set-top box processors, is taking out a multi-year extension for its license to use MIPS' cores. Activist fund Starboard Value has been pushing MIPS to better monetize its patents.
MIPS (MIPS -2.1%) trades lower after reaching a patent licensing deal with Broadcom (BRCM +0.6%). In exchange for $26.5M plus "other consideration," Broadcom obtains a non-exclusive license for the use of MIPS' IP in its products. In addition, Broadcom, which has long used MIPS' CPU cores in its set-top box processors, is taking out a multi-year extension for its license to use MIPS' cores. Activist fund Starboard Value has been pushing MIPS to better monetize its patents.
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