It was the oil price, Apple (NASDAQ:AAPL) and the littler guy, retail giant Walmart (NYSE:WMT) that were among the eclectic themes gaining traction in the US on Thursday.
The latter first and Asda owner Walmart, whose shares eased 1.4% ojn the day, has decided it wants to become a gasoline station operator as well as a huge retailer.
Last week, Walmart told Murphy USA , the firm that has been running its stations, it would now build and operate them itself. Murphy will continue to run the more than 1,000 stations it has built near Wal-Mart stores.
The oil price lifted today but it was no surprise bearing in mind the fate of other such firms, that US oil and gas giant ConocoPhillips (NYSE:COP) dropped almost 6% as it confirmed it will continue to cut back on its capital expenditure in the wake of the slumping oil price.
The firm will reduce its spending to US$6.4bn for 2016 it announced, including slashing its quarterly dividend.
ConocoPhillips said it will cut its quarterly dividend to 25 cents a share from the previous 74 cents a share.
VirnetX wins patent enfringement case
Elsewhere, internet security software group VirnetX Holding (NYSE: VHC) saw shares skyrocket 46% as it reported that a US$625.6mln lawsuit verdict against tech behemoth Apple (NASDAQ:AAPL) had gone in its favour.
The case was to do with patent infringement.
The verdict yesterday in the US District Court for the Eastern District of Texas in Tyler includes royalties awarded to VirnetX based on an earlier patent infringement finding against Apple.
The jury found that Apple's modified VPN On Demand, iMessage and FaceTime services infringed VirnetX's patents and that Apple's infringement was willful.
WHAT'S HOT AND WHAT'S NOT?
RISERS
VirnetXH Holding (NYSE:VHC),up 59% to US$7.62 after it reported that a US$625.6mln lawsuit verdict against tech behemoth Apple (NASDAQ:AAPL) had gone in its favour. Propanc Health (OTCMKTS:PPCH), up 25.71% after it said its lead product PRP can be used to suppress the development of cancer stem cells. Oxysure Therapeutics (OTCMKTS:OXYS) , up 44% after the emergency oxygen kit provider has agreed a supply deal. The deal is with Essendant (NASDAQ:ESND), a global distributor of workplace essentials with $5.4 billion in sales, subsidiary ORS Nasco. FALLERS ConocoPhilips (NYSE:COP) , down 8.57% after it confirmed it will continue to cut back on its capital expenditure in the wake of the slumping oil price. Ralph Lauren Corp (NYSE: RL), down 18.92% to US$93.70 after reporting quarterly sales, which were worse than expected. Kohl's Corp (NYSE:KSS), down 18.91% to US$41.46 as qauterly sales figures equally disappointed the market.