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A Supreme Court decision could have a big impact on patents in the medical field and Microsoft takes on a new partner which could boost lagging computer sales. Here's the Thursday Bloomberg After The Bell Report from the New York Stock Exchange.
A landmark Supreme Court case has both sides claiming victory. The high court restricted some patents biotech company Myriad holds on human genes, but preserved other parts of the patents. Doctors and patients object to Myriad's gene patents, saying they limit research. The decision is projected to have wide-reaching effects on the field of personalized medicine.
Positive retail sales and jobless claims data sent stocks higher and a media deal also helped to boost stocks today. Gannett, the publisher of USA Today, is in a deal to buy TV company Belo for about $1.5 billion. The purchase will make Gannett the fourth biggest owner of major network affiliates with 43 stations. The news sent Gannett shares up as high as 29-percent during trading, the most in almost four years.
Microsoft is joining forces with Best Buy in an effort to boost slumping personal computer sales. The tech company will set up Windows stores in 600 U.S. and Canadian Best Buy retail shops. The mini-stores will also sell the Windows phone and Xbox.