AOL, Apple: Premarket Movers
"The agreement with Microsoft represents the culmination of a robust auction process for our patent portfolio," said Tim Armstrong, the AOL CEO, in a statement released before the market open. "The combined sale and licensing arrangement unlocks current dollar value for our shareholders and enables AOL to continue to aggressively execute on our strategy to create long-term shareholder value."
Shares of AOL climbed more than 34% to reach $24.70. Microsoft's stock dipped 0.86% to $31.25.
|AOL has announced a patent deal with Microsoft.|
The analyst firm also highlighted the possible need for an iPhone price cut, as well as heightened expectations that Apple will launch another revolutionary phone.
--Written by James Rogers in New York.
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