Company News

BUZZ-Quarterhill: Surges on unit WiLan's patent win over Apple

** Quarterhill Inc’s U.S.-listed shares surge 37 pct premarket

** U.S. jury asks Apple to pay $145 mln in damages to Canada’s WiLan, a unit of Quarterhill, for patent infringement

** Quarterhill’s cash and cash equivalents were ~$70 mln as of March 31

** QTRH U.S. stock has tumbled ~41 pct this year through Wednesday, giving the company a market cap of ~$127 mln

** Canaccord Genuity upgrades the stock to “speculative buy” on the “huge patent win vs. Apple”

** Says win will likely embolden WiLAN to press its wireless IP against other players with potential greater returns, but cautions on likelihood of an appeal and time to collect proceeds (Reporting by Savio D’Souza)