Sirius XM Holdings Inc. (NASDAQ:SIRI) [Trend Analysis] surged reacts as active mover, shares an advance 0.22% to traded at $4.54 and the percentage gap between open changing to regular change was 0.22%. New York’s top court handed Sirius XM Holdings Inc a major victory on Tuesday in a closely watched copyright battle with the founders of the 1960s’ band The Turtles, a decision that will reduce a settlement both sides reached just weeks ago.
In a 4-2 ruling, the New York Court of Appeals agreed with Sirius that New York common law does not protect the public performance of songs made before 1972. Sirius had been playing the oldies without paying royalties. Copyright “prevents copying of a work,” the court said, “but does not prevent someone from using a copy, once it has been lawfully procured, in any other way the purchaser sees fit.”
The case is one of a handful challenging New York-based Sirius and Pandora Media Inc over their playing of songs recorded before Feb. 15, 1972. Though such songs are not covered by federal copyright law, some recording artists and labels have won rulings entitling them to copyright protection under individual state laws. Record sales have long been falling industry wide, forcing artists and labels to depend more on online or satellite services to make money. The firm’s current ratio calculated as 0.40 for the most recent quarter. The firm past twelve months price to sales ratio was 4.42 and price to cash ratio remained 37.93. As far as the returns are concern, the return on equity was recorded as -141.70% and return on investment was 15.10% while its return on asset stayed at 8.80%.
Lloyds Banking Group plc (NYSE:LYG) [Trend Analysis] try to make new thrust in street and making different trends, stocks trading ended with 0.16% to $3.19. Lloyds Banking Group plc (LYG) reported that it has agreed to acquire MBNA Ltd (MBNA), a UK consumer credit card business, from FIA Jersey Holdings Limited, a subsidiary of Bank of America. The gross assets are being acquired for cash consideration of 1.9 billion pounds.
The purchase price includes approximately 0.8 billion pounds of acquired equity and assumes 240 million pounds for future PPI claims. Lloyds expects the transaction to deliver: an underlying Return on Investment that exceeds Cost of Equity in the first full year and increases to approximately 17% in the second full year following the acquisition; and approximately 3% and 5% statutory EPS accretion in the first and second full years following the acquisition.
Lloyds said the transaction will deliver a 650 million pounds per annum increase to Group revenues and will enhance Group net interest margin by approximately 10bps per annum. There is also important opportunity for cost synergies, currently expected at approximately 100 million pounds run rate per annum within 2 years. The share price of LYG attracts active investors, as stock price of week volatility recorded 1.72%. The stock is going forward to its 52-week low with 31.36% and lagging behind from its 52-week high price with -26.59%.