Shares of Bothell-based Lumera Corp. rose almost 12 percent, to $4.24, on Monday after the company said it has begun selling a telecommunications modulator that can send data at a rate of up to 40 gigabits per second. That’s several times faster than technology in common use today. Lumera said its next goal is to offer a product that sends data at up to 100 gigabits per second.
SonoSite unveils ultrasound tool
SonoSite Inc. has introduced a new ultrasound tool designed specifically for anesthesiologists. The Bothell company said the new S-Nerve to designed to help the specialists perform nerve block procedures in crowded, busy operating rooms. The S-Nerve is the third new ultrasound device SonoSite has debuted during the past three weeks.
High court rejects Microsoft case
The Supreme Court Monday rejected an appeal by Microsoft Corp. and a unit of Best Buy Co. Inc. to dismiss a lawsuit alleging violation of racketeering laws through fraudulently signing up customers for Microsoft’s online service. The companies asked the justices to overturn a May ruling by the San Francisco-based 9th U.S. Circuit Court of Appeals, which said the civil suit could proceed. The Supreme Court is letting that ruling stand, which means the class-action lawsuit involving thousands of consumers with complaints against the companies will be litigated in federal district court. Originally filed by one consumer in northern California, the lawsuit claims the companies’ joint venture violated the Racketeer Influenced and Corrupt Organizations Act, or RICO, which is usually used in organized crime cases. Successful RICO claims provide for triple damage awards in civil cases.
AOL eliminates 2,000 jobs
AOL is eliminating another 2,000 jobs worldwide as it tries to cut costs and make room to grow in online advertising. The 20 percent slice from AOL’s work force comes after several rounds of layoffs in recent years, including a cut of 5,000 jobs last fall. The latest cuts would give AOL more flexibility to expand ad-related businesses through acquisitions and potentially new hires, company officials said. AOL Chief Executive Randy Falco told employees Monday that AOL is best at developing Web sites such as its Moviefone and MapQuest properties to attract people in some 30 countries. Its goal, he said, is to build “the largest and most sophisticated global advertising network” for marketers.
T-bill rates rise in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 4.185 percent, up from 3.925 percent last week. Six-month bills were auctioned at a discount rate of 4.225 percent, up from 4.095 percent last week. For a $10,000 bill, the three-month price was $9,894.21 while a six-month bill sold for $9,786.40. The Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, rose to 4.24 percent last week from 4.12.
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