SCO bumped off Nasdaq
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The SCO Group has been removed from the Nasdaq Stock Market because&#160;the company declared bankruptcy in September.The stock market delisted SCO and suspended trading of its shares (SCOX) at the beginning of trading on Thursday, SCO said in a filing to the U.S. Securities and Exchange Commission. Nasdaq had told the company in September that it would be delisted, and SCO&#39;s subsequent appeal of that determination was turned down.SCO has been waging an expensive legal battle against IBM for years, claiming the company inappropriately used copyrighted SCO Unix code as part of its support of the Linux operating system. SCO suffered a major loss in that case in August when&#160;a federal judge ruled that Novell, not SCO, owned the Unix copyright. In September, the Lindon, Utah, company said the ruling might cost it US$30 million and that it had just $10.4 million in cash.In October,&#160;SCO said it had a &quot;potential&quot; buyout offer for $36 million from JGD Management, a company affiliated with investment firm York Capital Management. That deal would have to be approved by the bankruptcy court.
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Shares in SCO Group Inc.  rallied as much as 34 percent on Thursday after the small software company won a legal victory in its multibillion dollar lawsuit against IBM over computer software code used in Linux.
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While still fighting in the courts and fresh from filing for Chapter 11 bankruptcy protection last month, The SCO Group could soon be selling its steadily-declining Unix business.In a filing Tuesday in U.S. Bankruptcy Court in Delaware, the Lindon, Utah-based company said it has received a "potential" $36 million offer for its Unix business from JGD Management, an umbrella business of New York-based investment firm York Capital Management. The filing has been posted on the Groklaw.com Web site, which has been tracking the legal records of the ongoing lawsuits between SCO, IBM, Novell, and others. In it, SCO reports that the offer includes money for its Unix business, litigation claims, and for litigation expenses.The bid is subject to approval by the bankruptcy court, according to the filing, and competitive bids could still be accepted from other potential buyers.SCO filed for Chapter 11 bankruptcy reorganization last month as it began seeking ways to stay in business amid mounting expenses and several legal rulings that have hurt its legal fights with IBM and Novell.If SCO gets out of the Unix business, it would continue solely as a mobile application platform vendor, which it has been working to become over the last several years.An SCO spokesman could not be reached for comment about the buy-out offer. A spokesman for York Capital Managament declined to comment on the matter.Three weeks ago, in an interview with Computerworld, SCO CEO Darl McBride said his company would continue to make moves to remain a viable business, despite the death knells sounded by some critics.According to the terms of the York offer, approval of the deal is required from the bankruptcy court by Nov. 9, with the transaction needing to be completed by Dec. 7.Computerworld is an InfoWorld affiliate
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Europe's bourses are expected to track the climb on the Nasdaq overnight and open slightly firmer. Ericsson though is likley to suffer following a disappointing update and VW will be in focus after rejecting an union pay cuts offer as insufficient.
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Wall Street pulled back today amid light volume as investors refrained from making any big bets ahead of the Federal Reserveâs rate decision.
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NEW YORK  -The S&P 500 and the Nasdaq fell in  choppy trade on Wednesday, as pessimism about the U.S. economy  mounted after Intel Corp , the world's largest chip  maker, posted earnings and a profit forecast that disappointed  investors.
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Record highs of the past week spill over into a patchy market, taking the S&amp;P 200 lower. Investors continued to take profits after last week&#39;s record highs, pushing the sharemarket slightly lower yesterday.
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U.S. blue-chip stocks were knocked  lower on Thursday after Exxon Mobil Corp. XOM.N was  downgraded by a brokerage, but the technology-dominated Nasdaq  index rebounded from Wednesday's sharp decline.
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Some say indexes dropped Thursday because investors are idling until some good news comes around. Maybe so, but the trading volume of the Nasdaq-100 tracking stock, which we use to get a better feel for how individual tech shares are selling, ...
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A flurry of corporate updates failed to inspire investors today as the FTSE 100 Index slipped back towards the 4700 barrier. Catering group Compass and Rentokil Initial set the tone for the top flight as shares
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The Nasdaq ended 1 percent higher on  Thursday, led by a rise in semiconductor shares, but the  blue-chip Dow was knocked down to a fresh two-month low by a  fall in industrial bellwether Caterpillar Inc.CAT.N.
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InfoWorld - With its cash reserves running out and its legal case against IBM unravelling, The SCO Group now says there is doubt that it will remain afloat.
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Stocks closed higher on Wall Street amid the Oracle-PeopleSoft merger and a climb in retail sales figures. Investors pushed stocks substantially higher yesterday as Wall Street greeted the Oracle-PeopleSoft
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U.S. blue-chip stocks were knocked lower on Thursday after Exxon Mobil Corp.  was downgraded by a brokerage, but the technology-dominated Nasdaq index rebounded from Wednesday's sharp decline.
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Enough to pay the lawyers off The SCO Group, which earlier this month filed for bankrupcy protection, says it has received an offer for its Unix business.â¦
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An anonymous reader writes &quot;SCO has filed for another delay in the case against IBM. The article reports that &#39;According to filings in the case, SCO is looking to buy time until the court can hear its arguments compelling IBM to release more information.
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$1.20 to go SCO Group shares went south in a hurry during Friday's trading, as investors reacted to the company's legal misfortunes.â¦