RealNetworks Inc (RNWK.O) surged 14.8 % to $3.96 in premarket trade on Wednesday after the company disclosed in an SEC filing that an arbitrator had disposed of all claims in its pending arbitration with VeriSign Inc (VRSN.O).
RealNetworks is a provider of Internet media delivery software and services based in Seattle, Washington, United States. The company is best known for the creation of RealAudio, a compressed audio format, RealVideo, a compressed video format and RealPlayer, a media player. The company is also known for its subscription-based online entertainment services like Rhapsody, SuperPass, and RealArcade, and for its media properties like Film.com and RollingStone.com.
VeriSign, Inc. (NASDAQ: VRSN) is an American company based in Mountain View, California that operates a diverse array of network infrastructure, including two of the Internet's thirteen root nameservers, the generic top-level domains for .com and .net, one of the largest SS7 signaling networks in North America, and the RFID directory for EPCGlobal. VeriSign also provides a variety of security and telecom services ranging from digital certificates, payments processing, and managed firewalls to mobile call roaming, toll-free call database queries and downloadable digital content for mobile devices. The company groups all of these functions under the banner of 'intelligent infrastructure' services.
JP Morgan subsequently boosted its rating on the stock to "neutral" from "underweight."
VeriSign shares were unchanged at $22.11.
Reuters has contributed to the report.
Russian Foreign Minister Sergei Lavrov announced the termination of diplomatic relations with NATO at a time when US Secretary of Defense Lloyd Austin ended a meeting in Georgia with his counterpart