BUSINESS Watch -- WSJ
03 December 2016 - 7:02PM
Dow Jones News
Lexmark International
High Court to Hear Patent-Rights Case
The Supreme Court said Friday it would review Lexmark
International Inc.'s power to prevent third-party companies from
refilling and reselling patented toner cartridges initially sold by
the Lexington, Ky., manufacturer.
The case pits Lexmark against Impression Products Inc., a
Charleston, W.Va., printer store that acquired used cartridges and
refilled them for resale.
Lexmark sold cartridges under different conditions. Consumers
could buy a "regular cartridge" at full price without limits on
future use, or a "return program cartridge" for about 20% less,
under a "single-use/no-resale" restriction requiring them to return
the product to the manufacturer.
The U.S. Court of Appeals for the Federal Circuit, a specialized
court that hears patent appeals, sided with Lexmark. But that court
frequently has been reversed by the Supreme Court, which has found
that its rulings have tended to give more market power to patent
holders than Congress or the U.S. Constitution intended.
Separately, the high court agreed to review whether hospital
chains with religious affiliations must comply with federal law
protecting employee pensions, the Employee Retirement Income
Security Act. Both cases will be heard in early 2017.
--Jess Bravin
Whitechapel Bell Foundry
Liberty Bell Maker To Close Its Doors
The British foundry that made the Liberty Bell, London's Big Ben
and the clock bells for the city's St. Paul's Cathedral is closing
its doors, citing shrinking demand for large church bells.
Whitechapel Bell Foundry Ltd., which calls itself Britain's
oldest manufacturing company, plans to cease operations in East
London by May. The foundry's owner plans to retire and sell the
site and won't take on any new contracts in the interim.
The foundry has moved several times since being established in
1570 but has been at its present site for more than 250 years.
--Saabira Chaudhuri
BIG LOTS
Revenue Declines; Outlook Improves
Big Lots Inc. reported flat comparable-store sales and an
unexpected revenue decline in its third quarter but raised its
profit forecast for the year.
The retailer reported a profit of $1.4 million, or 3 cents a
share, up from a loss of $1.5 million, or 3 cents a share, a year
earlier. Revenue declined 1% to $1.11 billion. For the year, Big
Lots expects adjusted per-share earnings of $3.55 to $3.60, up from
its previous forecast of between $3.45 and $3.55 a share. Analysts
polled by Thomson Reuters had expected earnings of $3.53.
--Austen Hufford
(END) Dow Jones Newswires
December 03, 2016 02:47 ET (07:47 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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