With the stock market rising nearly 3% last week, there were numerous big gainers on the list, led by a Chinese shipping company that was a 3-bagger.
Sino-Global Shipping America (NASDAQ:SINO) more than tripled, up 362%, after it announced a strategic cooperation agreement with COSCO Container Shipping Agency. Founded in 1998, COSCO Container Shipping Agency is a fully owned subsidiary of COSCO Container Lines and has more than 50 offices in coastal cities throughout China including Guangzhou, Dalian, Shanghai, Qingdao, Tianjin, Shenzhen, Xiamen and Ningbo.
Parkervision (NASDAQ:PRKR) doubled last week after it sued Qualcomm (NASDAQ:QCOM) for patent infringement. The company announced that it commenced federal litigation against Qualcomm alleging that the San Diego-based company infringes seven ParkerVision patents. These patents relate to radio-frequency ("RF") receivers and the down-conversion of electromagnetic signals, a body of intellectual property ("IP") that ParkerVision pioneered for creating direct conversion receivers. The complaint further alleges that Qualcomm has utilized and continues to utilize devices, systems, or methods that directly or indirectly infringe upon one or more claims of these patents.
In the complaint filed in the United States District Court for the Middle District of Florida, ParkerVision is seeking unspecified monetary damages from Qualcomm as well as a permanent injunction barring the manufacture and sale of Qualcomm's infringing devices. The complaint accuses Qualcomm of objective recklessness in its infringing activity and seeks an award of exemplary damages, attorneys' fees, and costs in bringing this action.
ParkerVision has invested over $200 million in its wireless technologies over the last fifteen years and has developed core IP in a number of areas in the field of wireless communications. This lawsuit comes at a time when the industry requires higher performance receivers to accommodate multiple standards, next generation networks, smaller form factors, and increased power efficiency in mobile devices. ParkerVision's IP portfolio today includes 118 issued U.S. patents and over 40 additional U.S. patent applications. The seven patents cited in the complaint collectively contain over 400 claims.
Wowjoint Holdings Limited (NASDAQ:BWOW) jumped 85% after signing a new equipment contract. The company said that it signed a new equipment contract for a marine hoist. Shenzhen Land Investment & Development Center, a government control center, signed a contract with Wowjoint for approximately $400,000 to purchase a 50 ton marine hoist. The marine hoist will be used as a yacht hoist in the 2011 Shezhen Universiade. This represents the second industry that Wowjoint has been able to penetrate with its customized marine hoist and is a large market that can lead to future sales.
Pure Bioscience (NASDAQ:PURE) climbed 37% after it obtained U.S. EPA registration of expanded claims for one of its products. The company announced the United States Environmental Protection Agency’s (EPA) registration of a major amendment to the PURE Hard Surface label to add additional pathogens, including Hepatitis B, Hepatitis C and multiple Carbapenem-resistant bacteria as well as to reduce virus kill times to as quick as 30 seconds. PURE Hard Surface’s viral efficacy exceeds that of even highly toxic chemicals. The new label cites all viral kill times for PURE Hard Surface at no more than 60 seconds and most at just 30 seconds. In addition, PURE Hard Surface now carries 60-second kill claims for Hepatitis B and Hepatitis C viruses, which, coupled with the existing 30-second HIV claim, meet OSHA standards for blood-borne pathogen control in hospitals and medical facilities.
PURE Hard Surface had previously been registered with 30-second kill times against Pseudomonas aeruginosa and Salmonella enterica and 2-minute kill claims for a broad spectrum of additional bacteria, including Methicillin-resistant Staphylococcus aureus (MRSA) and 24-hour residual protection against standard indicator bacteria. The amended PURE Hard Surface label expands the spectrum of bacterial kill claims adding 3 resistant bacteria: Carbapenem-resistant E. coli, Carbapenem-resistant Klebsiella pneumoniae and NDM-1 (New Delhi metallo-beta-lactamase-1) positive Carbapenem-resistant Klebsiella pneumoniae.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.