Late Market News: Microsft (NASDAQ:MSFT), Toyota (NYSE:TM), and Micon Technology (NASDAQ:MU)

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A federal appeals court has rejected Microsoft's request to review a $290 million patent ruling against the software maker.  Microsoft had asked the U.S. Court of Appeals for the Federal Circuit for a review by its full roster of judges. In December, a three-judge panel from that court had upheld a lower court ruling that Microsoft infringed on patents held by i4i Inc., a Canadian software company.  The technology in question gives Microsoft Word users an improved way to edit the computer code that tells the program how to display a document's contents.  In a statement, i4i said it's delighted with the outcome. Microsoft says it is disappointed and is considering its options for going forward. That could include an appeal to the U.S. Supreme Court. – AP

Shares of Toyota Motor (TM) have turned upward after a sluggish morning, rising 63 cents, or 0.8%, at $81.05 after the company this afternoon reported a 35.3% rise in U.S. auto sales in March from a year earlier.  Toyota sold 186,863 units in the month, the company said, which was slightly ahead of the 178,546 units sold by Ford (F) for its four core brands in the month, as reported earlier. Ford had the higher rate of growth, though, with a 43% gain, year over year.  – Barrons

Also keep an eye on shares of Micron today (after hours). The computer chip maker posted its second straight quarterly profit after several years of losses late yesterday. Micron earned $365 million, or $0.39 per share, in its fiscal first quarter, compared to a loss of $763 million, or $0.99 per share, in the same quarter last year. Revenue totaled $1.96 billion, vs. $993 million last year.  Micron said its gross margin was 35 percent in the fiscal second quarter, vs. 27 percent in the first quarter. – Forbes

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