Market Minute: Apple, Samsung Patent War Slogs On; JPMorgan's 'Whale' Woes

A big day in the Apple vs. Samsung battle, and the Feds want something unusual from JPMorgan. Those stocks and more are what's making business news Friday.

The market snapped a three day losing streak Thursday. The Dow Jones industrial average (^DJI) gained 27 points, the Standard & Poor's 500 (^GPSC) added 6, and the Nasdaq composite index (^IXIC) rose 15 points.

apple samsung patents court galaxy iphone smartphone
Victor J. Blue/Bloomberg via Getty Images
This could be a big day in the long-running patent war between Apple (AAPL) and Samsung. The U.S. International Trade Commission is expected to rule on whether Samsung violated Apple's patents. In addition, a federal appeals court determines whether Samsung should be allowed to continue selling certain products here. A jury previously ruled that Samsung did infringe on various Apple patents.

News reports say JPMorgan Chase (JPM) may not be able to complete a settlement with the government without admitting guilt. Usually firms are allowed to pay fines without admitting guilt. The case involves what became known as the "London whale" case, in which JPMorgan lost more than $6 billion in complex derivative trades.

Pittsburgh-based PNC Financial (PNC) is the latest in a series of banks to say it is the subject of Department of Justice investigation into the pricing of mortgage-backed securities.

Investors are bidding up the shares of (PCLN), the online travel site. Its quarterly profit rose a better-than-expected 24 percent. Priceline is likely to trade above $985 a share.

But Monster Beverage (MNST) might need a pick-me-up. It said earnings fell slightly, hurt by rising costs of defending itself against lawsuits and regulatory probes. The company's high-caffeine drinks have been linked to health problems.

Three other stocks are set to tumble on disappointing results: the rare-earth miner Molycorp (MCP), the biotech firm Dendreon (DNDN), and organic-food maker Annie's (BNNY). But Rackspace (RAX), which provides cloud computing services, topped expectations.

And Blackberry (BBRY) is reportedly considering a move to take the mobile-device maker private. According to Reuters, Blackberry is talking with the same private-equity firm embroiled in the effort to take Dell (DELL) private.

-Produced by Drew Trachtenberg.

World's Most Expensive Cities for Expats
See Gallery
Market Minute: Apple, Samsung Patent War Slogs On; JPMorgan's 'Whale' Woes
Price of an average pair of blue jeans in Angola's capital: $204
Think your Starbucks habit is tough here? A cup of coffee in Moscow can cost $8.29.
Doesn't sound much like the value menu: A fast food hamburger meal here runs $7.31 on average.
Savor your lunch: A club sandwich meal in this African capital costs  $25.51 on average. (Don't go looking for a familiar fast food burger -- the big chains aren't here yet.)
Home sweet home won't come cheap in this island city-state: Monthly rent for an unfurnished two-bedroom luxury apartment averages $3,795.
But move from Singapore to Hong Kong and you'll reminisce about the good old days when your rent was reasonable. To lease an unfurnished two-bedroom luxury apartment here, you'll shell out $7,092 a month.
It's painful to fill your gas tank anywhere these days, but pity the poor Swiss: A liter of gas in Geneva runs $2.02, or $7.66 a gallon.

If you're bringing your family along for your job in Zurich, you'll need a bit more space -- and money An unfurnished luxury three-bedroom house will set you back $5,981 a month (which, on this list, looks almost reasonable).

News and entertainment will cost you in Bern: A movie ticket averages $18.95, and a copy of a daily international newspaper will run you $4.35.
After looking at the rest of the cities on the list, Sydney feels practically cheap: Just $2.15 for a liter of soda, $113.55 for a pair of blue jeans, and $9.20 for a fast food hamburger meal.
Read Full Story
  • DJI26790.3920.190.08%
  • NIKKEI 22522548.9056.220.25%
    Hang Seng26725.686.100.02%
  • USD (PER EUR)1.12-0.0019-0.17%
    USD (PER CHF)1.01-0.0015-0.15%
    JPY (PER USD)108.580.23100.21%
    GBP (PER USD)1.30-0.0022-0.17%