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Apple Suit Seen Hurting Creative in Long Run
MP3 music player maker Creative's U.S. patent lawsuit against Apple has boosted the loss-making Singapore firm's shares, but analysts fear it will disrupt management turnaround efforts. I find it interesting that a lawsuit helped jump Creative shares 10 percent in just a single day!
On Wednesday morning, Creative shares rose as much as 9.3 percent to S$10.00 on thin volume, buoyed by news of the patent infringement suit, which relates to a system developed to organize and access songs. At midday, the stock was up 7.7 percent at S$9.85. Apple shares fell more than 4 percent on Tuesday in active trade on Nasdaq, due partly to the patent lawsuit and on concerns its business may be slowing. "The lawsuit will be a long process, and even if they win, any damages awarded will be a one-off gain. This does not change Creative's business fundamentals and the fact that there is nothing much to look forward to on the operations front."
Posted by | Wed, May 17, 2006 - 09:47 AM
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