As part of a new strategy for dealing with the trade war, Chinese firm Huawei is fighting back in a different way: With patents. Targeting Verizon specifically, Huawei has told the telecom company that it should pay licensing fees totaling more than $1 billion on the 230 patents being used.
 | | Good morning. As part of a new strategy for dealing with the trade war, Chinese firm Huawei is fighting back in a different way: With patents. Targeting Verizon specifically, Huawei has told the telecom company that it should pay licensing fees totaling more than $1 billion on the 230 patents being used.
Given China's long history of acquiring intellectual property through dubious means, one of which involves not paying royalties on patents by other countries, one wonders whether China would like to be called the pot or the kettle on this issue. | | |
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| | |  | DOW 30, 26,106.77 | +0.39% | | | | S&P 2,891.64 | +0.41% | | | | NASDAQ 7,837.13 | +0.57% | | | | | *As of market close | | | • | Stocks moved upwards on Thursdays, amid rising geopolitical tensions. | | | | • | Oil rallied two percent, following a report that oil tankers were being torpedoed in the Gulf of Oman. | | | |
| | | Oil Tankers Under Fire, Crude Rises Two Percent | |  | | Two tankers torpedoed in Gulf of Oman. | | Crude oil prices rose on Thursday, following attacks on two oil tankers in the Gulf of Oman. The Gulf is close to the Strait of Hormuz, where more than 30 percent of the world's oil shipments pass through.
Both tankers reported heavy damage and had their crews were evacuated. The vessel Front Altair was on fire, but afloat, denying rumors that the vessel was sunk.
» FULL STORY | | | | |
| | Fiverr Goes Public, Shares Rally From IPO Price | |  | | Freelance company joins crowded IPO field. | | Online freelance service company Fiverr (FVRR), went public on Thursday, adding to a full calendar for companies making their debut on market exchanges this year.
Shares were initially sold at $21 per share, after being priced in the $18-20 range just before launch. In early trading, they rose into the early $30 range, closing the day 90 percent over their IPO price.
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| | | | Insider Activity: Encana Corporation (ECA) |  | | Insiders buying at hard-hit exploration company. | | On June 12th, multiple insiders picked up shares at Encana Energy Corp (ECA).
These buyers include CEO Douglas Suttles, who bought 5,000 shares, paying over $24,000. CFO Corey Code bought 10,000 shares, paying nearly $50,000. And David Hill, EVP of Exploration, bought 10,000 shares as well. All told, these insider put over $125,000 of their own money to work in shares.
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| | Unusual Options Activity: Western Digital Corporation (WDC) | |  | | Big option buy suggests huge upside for tech firm. | | Could shares of data storage company Western Digital (WDC) rally 50 percent between now and January 2020? One trader is betting so.
On Thursday, over 16,600 options had traded on a January 2020 $55 call for the company. With shares trading around $36.50, that implies a 50 percent upside in shares in the next six months.
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| | | • | Economists increasingly see the likelihood of the Fed cutting interest rates either in July or September. | | | | | • | Despite improvements in data collecting, determining flood risk is a huge problem for American homeowners. | | | | | • | Advertising for marijuana is more dangerous than for tobacco, health researchers find. | | | | | • | Delta CEO calls for free Wi-Fi in the air. | | | | | • | In the cloud storage space, Microsoft and Oracle team up to take on Amazon. | | | | | • | Also targeting Amazon, Target launches a shopping site for same-day delivery. | | | | | • | Evolving into a full-fledged travel company, AirBnb is adding trip packages. | | | | | • | To lure tech firms, China opens a Nasdaq-style stock board. | | | | | • | Meanwhile, to avoid tariffs, Restoration Hardware, up 27 percent after an earnings beat Thursday, has moved production out of China. | | | | | • | In earnings news, Broadcom beats on earnings but misses on revenue, sending shares down after hours. | | |
| | | | TOP | | | AAL | 6.399% | | | | CF | 4.709% | | | | DIS | 4.436% | | | | XEC | 4.212% | | | | UAL | 3.962% | | | | BOTTOM | | | MNST | 5.431% | | | | TWTR | 3.068% | | | | LLY | 2.968% | | | | ALXN | 2.826% | | | | BLL | 2.523% | | | | |
| | |  | | Fingers will certainly be pointed at Iran as the mastermind behind these events. But the potential benefits to the Persian Gulf nation are outweighed by the risks. And even if Tehran isn't responsible, it will still suffer the consequences. | - Bloomberg's Julian Lee of the tanker attacks in the Gulf of Oman.  | |
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