SAN FRANCISCO (MarketWatch) -- Motorola Inc. said Friday it won a decision in the U.S. Court of Appeals for the Federal Circuit affirming that the company did not infringe on a patent owned by the University of Texas System related to text messaging software used in mobile phones. Motorola said the University System had sued it and over 30 other handset manufacturers. "Motorola is extremely gratified with the decision of the appellate court," Motorola Senior Litigation Counsel Thomas Miller said in a statement.

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SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. said Friday that the European Commission has given its approval to the company's $13.9 billion acquisition of Electronic Data Systems Corp. . H-P also said EDS had settled five lawsuits that came about after H-P said it would buy EDS on May 13. As part of that settlement, H-P and EDS said the acquisition won't close before Aug. 18 and EDS will pay its third-quarter dividend of 5 cents a share on Sept. 10.

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SAN FRANCISCO (MarketWatch) -- A federal judge dismissed a juror from a trial pitting Mattel Inc. against MGA Entertainment Inc. over intellectual property rights involving the popular Bratz doll, The Wall Street Journal reported in its online edition late Friday. The juror was dismissed for making an inappropriate ethnic comment against MGA Chief Executive Isaac Larian during deliberations, the newspaper said. Larian is Jewish and an Iranian immigrant. Following the dismissal, MGA asked the judge for a mistrial. The motion is scheduled to be heard on Aug. 4, the Journal reported.

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SAN FRANCISCO (MarketWatch) -- Amgen said late Friday that a Phase 3 study where patients received denosumab, a RANK Ligand inhibitor, demonstrated a significant reduction in the incidence of new vertebral fractures compared with placebo treatment. Women receiving denosumab also experienced a significant decline in the incidence of new non-vertebral and hip fractures. At the same time, the incidence and types of adverse events, including serious infections and neoplasms, were similar between the denosumab and placebo groups, Amgen said. The three-year international study involved 7,800 women with osteoporosis.

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SAN FRANCISCO (MarketWatch) -- Grainger agreed to pay $6 million, or 5 cents a share, to resolve a Trade Agreements Act and Sourcing complaint with the Department of Justice, the Chicago-based supplier of facilities-maintenance products said Friday. It had previously set aside 5 cents a share reserve to fund the settlement. "Discussions with the Department of Justice relating to its previously disclosed review of the company's compliance with disclosure obligations under the GSA contract and the contract's pricing provisions are ongoing," said Grainger in a statement.

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NEW YORK (MarketWatch) -- U.S. stocks on Friday finished mixed for the week as equities tallied modest gains on crude's price decline and upbeat economic data, including a surprising rise in orders for durable goods. The Dow Jones Industrial Average gained 21 points to end at 11,370, leaving it with a 1.1% loss for the week. The S&P 500 rose 5 points to 1,257, down 0.2% from a week ago. The Nasdaq Composite climbed 30 points to 2,310, leaving the technology-laden index with a weekly gain of 1.1%.

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NEW YORK (MarketWatch) -- General Electric Co. said Friday it would streamline its operations by folding its six business segments into four. The Fairfield, Conn.-based conglomerate and Dow 30 component said its new units now comprise GE Technology Infrastructure, GE Energy Infrastructure, GE Capital, and NBC Universal. Further, GE named newly appointed vice chairman John Krenicki to head GE Energy. Krenicki, 46, was previously CEO of GE Energy. "Infrastructure leads our growth, with revenues approaching $90 billion," said CEO Jeff Immelt. "The new organization will put two strong leaders in position to drive execution." GE shares were down a fraction at last check to $28.62.

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SAN FRANCISCO (MarketWatch) -- Shares of GT Solar Inernational Inc. fell as much as 17% Friday to $12 on news that LDK Solar Co. , one of its clients, had decided to buy multi- and monocrystalline furnaces from China-based rival JYT Corp. The move prompted GT Solar to issue a statement aimed at reassuring shareholders. "This announcement by LDK does not in any way impact GT Solar's backlog, nor do we believe it will have any effect on our internal targets or projections," GT Solar CFO Bob Woodbury said. GT Solar, which provides equipment and services needed to make photovoltaic wafers and cells, debuted as a publicly traded company on Thursday, raising $500 million through a 30.3-million-share IPO priced at $16.50 a share.

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SAN FRANCISCO (MarketWatch) -- Crude futures closed down 1.8% a barrel Friday, extending oil's weekly losses to 4.8%, as worries continued that weak economic growth will reduce oil consumption. Crude oil for September delivery fell $2.23, or 1.8%, to end at $123.26 a barrel on the New York Mercantile Exchange. Crude has fallen seven out of nine sessions since it closed at a record high of $145.18 a barrel on July 14.

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SAN FRANCISCO (MarketWatch) -- Chrysler LLC will no longer offer auto leases through its lending arm Chrysler Financial, The Wall Street Journal reported in its online edition Friday, citing people familiar with the matter. Auto makers and their financing units have been hit with increasing losses stemming from leases, mostly as a result of falling resale values of trucks, sport utility vehicles and other less fuel-efficient models that many consumers now shun, the newspaper said. The auto maker is expected to brief dealers formally later Friday in a conference call.

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SAN FRANCISCO (MarketWatch) -- Thomson Reuters is planning to launch a business television news channel to rival that of Fox Business News, Bloomberg and CNBC, The Daily Telegraph reported in its online edition Friday. The channel will broadcast on the Internet and through cable or some form of digital platform, the newspaper said. The launch could come as early as January but may be delayed, according to the report. Thomson Reuters is seeking a different medium through which to channel content and boost revenues, the U.K. newspaper said. Fox Business News is owned by News Corp. which also owns this Website and The Wall Street Journal.

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SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services said on Friday that it may downgrade the subordinated debt and preferred stock of Fannie Mae and Freddie Mac . The agency said any government bailout of the mortgage giants could place these securities lower in the capital structures of the companies. It's still not clear how creditors lower down the pecking order would be treated if the U.S. Treasury had to support Fannie and Freddie. But the language of the current legislation being considered by the Senate suggests that "subordinated debtholders and preferred stockholders would face greater subordination risk," S&P said. "This heightened risk is not incorporated in our current subordinated debt and preferred stock ratings on Fannie Mae and Freddie Mac," the agency added. "We may lower these issue ratings one to two notches at the conclusion of our review of the final legislation."

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NEW YORK (MarketWatch) -- Gold futures ended with modest gains Friday, but posted a weekly loss of over $30. Gold for August delivery rose $4.50 to end at $926.80 an ounce on the New York Mercantile Exchange. Gold posted a weekly loss of $31.20 an ounce from last Friday's closing level of $958 an ounce.

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NEW YORK (MarketWatch) -- U.S. stocks on Friday pared gains after Standard & Poor's Rating Services put mortgage buyers Fannie Mae and Freddie Mac on CreditWatch Negative, dimming cheer over crude's decline and upbeat economic data. After lapsing into negative turf, the Dow Jones Industrial Average was up 7 points at 11,356. The S&P 500 climbed 2 points to 1,255, and the Nasdaq Composite gained 21 points to 2,301.

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NEW YORK (MarketWatch) -- Russian coal and steel producer Mechel said in a statement Friday that it "shares the concerns of the government of the Russian Federation, steel plants and metallurgical industry in regard to the growth in prices for steel products and raw materials in the recent time." On Thursday, Mechel's New York-listed shares tumbled 37.6% after Prime Minister Vladimir Putin said the company has been selling raw materials abroad at half the price it charges domestically and should be investigated. "Mechel is ready for cooperation with federal authorities of the Russian Federation and, if required, will provide complete information on any arising issues," the company said Friday. It also reiterated that it has started forming long-term commercial relationships with key partners and has signed a number of agreements for delivery of its products to the end of this year. Mechel's shares rose 14% in intraday trading in New York on Friday.

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NEW YORK (MarketWatch) -- The U.S. Minerals Management Service is moving toward limited leases for data collection and technology testing for offshore wind projects, Pritchard Capital Partners noted on Friday. A total of six sites off New Jersey, one off Delaware and three off Georgia are being proposed for site assessment activities relating to wind resources. MMS will proceed with a noncompetitive leasing process for these sites, Pritchard noted.

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SAN FRANCISCO (MarketWatch) -- The Children's Investment Fund Management LLP and 3G Capital Partners Ltd. on Friday urged CSX Corp. to stop delaying the certification process for the board election results and called upon the railroad operator to immediately seat all elected directors. "We are deeply troubled by CSX's stated intention not to seat all elected directors upon certification. We believe the certification process will confirm that shareholders have elected four of our nominees to the CSX Board. This latest tactic should be seen for what it is - a cynical attempt to thwart the expressed will of CSX shareholders," said the hedge funds in a statement. The comments follow an announcement from CSX earlier Friday that it invited three board members, including 2 representing the hedge funds, to join the board immediately. The status of two other board seats remains uncertain.

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SAN FRANCISCO (MarketWatch) -- Sanofi Pasteur Holding, a vaccines division of Sanofi-Aventis , will buy United Kingdom's Acambis PLC for a total of about 276 million pounds ($549.5 million) or 190 pence a share, the pharmaceutical company said Friday. The offer price is a 65% premium to Acambis' share price of 115 pence at the close of business on July 24. Acambis is a London Stock Exchange-listed vaccines company and its portfolio includes a licensed smallpox vaccine.

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SAN FRANCISCO (MarketWatch) -- Federal Aviation Administration is calling for changes to make jet engines easier to restart, particularly if they stop working at high altitude, The Wall Street Journal reported in its online edition Friday. The move is focused on certain General Electric Co. engines following the crash of a Bombardier regional jet because the pilots couldn't restart either of its jet engines, the newspaper reported. The changes are expected to be made during scheduled maintenance overhauls in the next two or three years, so they won't result in any additional costs on the industry, according to the Journal.

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WASHINGTON (MarketWatch) -- The White House imposed further sanctions against the regime of Robert Mugabe on Friday, saying the June 27 election was fundamentally undemocratic. The new sanctions target several Zimbabwean companies that Mugabe and his loyalists use "to illegally siphon revenue and foreign exchange from the Zimbabwean people," the Treasury Department said. All assets of these firms in the United States are frozen and U.S. companies and citizens are barred from conducting business with them. One company frozen was set up to help Mugabe derive personal benefit from mining ventures in the Democratic Republic of the Congo, the Treasury said.

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SAN FRANCISCO (MarketWatch) -- Railroad operator CSX Corp. , which has been embroiled in a fight for control of its company, said Friday it "invited" John McPherson, Gilbert Lamphere and Alexandre Behring to join the board immediately. Lamphere and Behring represent hedge funds TCI Group and 3G Capital Partners, who were victorious earlier this month in getting four of their nominees elected to the board after a contentious proxy battle. The status of two board seats remains uncertain and are the subject of an appeal pending before the U.S. Court of Appeals for the Second Circuit. CSX said a decision is expected within 60 days.

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SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services on Friday lowered ratings on several major U.S. airlines, including Northwest Airlines , American Airlines and United. The ratings agency cut Northwest to B while ratings of AMR Corp. , American, UAL Corp. and United were lowered to B- from B. S&P cited expected losses and reduced or negative operating cash flow caused by high fuel prices.

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SAN FRANCISCO (MarketWatch) -- Exxon Mobil Corp.'s Gippsland Basin Joint Venture will invest $1.1 billion to develop more than 270 million oil-equivalent barrels from the Turrum field in the Bass Strait in southeast Australia, said the oil company Friday. Esso Australia, a subsidiary of Exxon Mobil, operates the Turrum field. Turrum field is estimated to hold about one trillion cubic feet of gas and 110 million barrels of oil and natural gas liquids, Exxon Mobil said.

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BOSTON (MarketWatch) -- Shares of home-builder stocks were higher Friday morning after the Commerce Department estimated U.S. new-home sales slipped less than 1% in June. The seasonally adjusted sales rate came in ahead of expectations, thanks in part to revised figures for previous months. The months' supply of homes on the market fell slightly to 10 months in June from 10.4 months in May, according to the report. The iShares DJ U.S. Home Construction ETF was up 3% at last check.

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NEW YORK (MarketWatch) -- U.S. stocks climbed solidly higher Friday after the government said the sale of new homes fell less than anticipated in June, bolstering earlier cheer that came after an unexpected rise in durable goods in June. Up about 50 points ahead of the housing data, the Dow Jones Industrial Average climbed 90 points to 11,439. The S&P 500 rose 9 points to 1,262, while the Nasdaq Composite rose 25 points to 2,305.

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WASHINGTON (MarketWatch) -- U.S. consumer sentiment rose in July, though it remains at a relatively low level, according to a media report Friday. The consumer sentiment index from the University of Michigan and Reuters hit 61.2 in July -- up from a reading earlier in the month of 56.6 -- compared with 56.4 in June. The June reading was the lowest since 1980 and the third-lowest reading in the 56-year history of the survey. Economists surveyed by MarketWatch had expected a July result of 56.

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WASHINGTON (MarketWatch) - U.S. home sales fell 0.6% in June, the Commerce Department estimated Friday. The decline in new-home sales to a seasonally adjusted annual rate of 530,000 was well above the 501,000 pace expected by economists surveyed by MarketWatch. That was because sales for the past three months were revised up sharply. New-home sales in May were revised to a 533,000 level compared with the previous estimate of 512,000. Sales remained above the cycle-low of 513,000 that was set in March. New-home sales are down 33.2% compared with a year ago. The months' supply of homes on the market fell slightly to 10 months in June from 10.4 months in May. Median sales prices have fallen 2.0% in the past year to $230,900.

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BOSTON (MarketWatch) -- Drug stocks were mixed in early action Friday while shares of research toolmakers Cepheid and Affymetrix Inc. imploded in the wake of disappointing earnings reports. The Amex Pharmaceutical Index inched up 0.4% to 304.7 and the Amex Biotechnology Index eased 0.9% to 829.9. Affymetrix shares plunged 24% to $7.94 as Cepheid's stock dove 28% to $19.70.

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SAN FRANCISCO (MarketWatch) -- Technology stocks put in a mixed trading performance Friday. Gains came from Apple Inc. , Cisco Systems Inc. and Microsoft Corp. , and the tech-heavy Nasdaq Composite Index rose 3 points to 2,282. Declines came from Hewlett-Packard Co. , IBM Corp. , Intel Corp. and Dell Inc. .

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NEW YORK (MarketWatch) - Retail shares were mixed Friday at the opening as Abercrombie & Fitch Co. took a hit following the resignation of Chief Financial Officer Michael Kramer while Crocs Inc. got pummeled after it lowered its profit outlook. Abercrombie & Fitch shares dropped 8.9%. Crocs shares tumbled 46%. The S&P Retail Index rose 0.2% to 353.20.

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