Big Losers: InterDigital, GMX Resources, PetMed Express

On Friday, InterDigital (IDCC) announced that the U.S. International Trade Commission investigation initiated by InterDigital against Nokia (NOK), reviewed in part the Initial Determination by the Chief Administrative Law Judge and found no violation of Section 337 and has terminated the investigation. The Adminstrative Law Judge found InterDigital's patents valid and enforceable, but also determined that the patents were not infringed by Nokia's 3G products.

InterDigital shares are currently trading down over fifteen and one quarter percent.

GMX Resources Inc. (GMXR) announced that it has launched a public offering of 5.75 million shares of the Company's common stock as well as a concurrent public offering of $70 million in aggregate principal amount of the Company's convertible senior notes due 2015.

Shares of GMX are down over eleven and one half percent so far today.

PetMed Express (PETS) announced its financial results for the quarter ended September 30, 2009. While earnings were inline with estimates, sales fell below analysts' expectations by over three and a half million dollars, sending shares lower today.

Currently, PetMed is trading down by twelve percent.

The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200910BigLosers101909&mv=1.

http://www.marketnewsvideo.com/

Related terms: earnings, financial results, International trade, investigation, law, pets, products, public offering, sales, video