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Stock Market & Financial Investment News

News Breaks
March 31, 2014
09:01 EDTOTEXOpen Text seeking infringement damages from Box, Inc. for more than $268M
OpenText advised Box, Inc. on March 30, 2014 that while OpenText seeks preliminary and permanent injunctions halting the sale of Box's products, it otherwise seeks damages exceeding $268M in the patent infringement lawsuit against Box. OpenText also seeks interest, damages for willful infringement, and attorney fees. This information was delivered to Box in response to Box's March 26 demand that OpenText provide the amount of its damages claimed in response to Box's discovery request.
News For OTEX From The Last 14 Days
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July 11, 2014
10:00 EDTOTEXOn The Fly: Analyst Downgrade Summary
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06:47 EDTOTEXOpen Text downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital downgraded Open Text to Sector Perform due to valuation and said further upside requires hard to achieve forecasts of margin expansion, organic growth and a high sustained historic multiple. The firm adds the company is less likely to make an acquisition near-term given leverage, removing a catalyst. Price target lowered to $55 from $60.

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