April 9 - AOL said it would sell over 800 of its patents and related applications to Microsoft for slightly over $1 billion in cash.
Microsoft throwing down the gauntlet a Google and FaceBook in what breaking -- calls the first salvo in the Internet space. The software giant is spending one point one billion dollars of highs and 800 patents from AOL. And over one million dollars a piece that great -- even huge ones paid last year for intellectual property from mobile phones. AOL continues to hold more than 300 key patents. The move comes as FaceBook Yahoo! apple Samsung and others. Duke it out in court over patent issues. What they'll do with it spoils from the -- -- AOL says and -- intends to return a significant portion of the sale proceeds. To shareholders and they'll determine just how to do that when the deal closes. It Padilla has happened though at the end of Q4 and wealth says it would have had approximately. Fifteen dollars per share cash on hand and that alone makes for a big payday for CEO Tim Armstrong and Arianna Huffington you're only big stakes and she's still. Tough -- AOL last year. Both Armstrong happy -- portfolio surging this morning shares of AOL up 45% surpassing the 52 week high about twenty. Two bucks -- well right now 269. Before. US stocks overall though we're looking at heavy losses on this Easter Monday. All three of the major indexes are down right now more than 1% they are still suffering from the impact of that week Friday jobs report. Pushing the S&P down at this hour we got -- -- -- a big impact they are off nearly 2%. On commodities US crude is off by two bucks -- head of negotiations. On Iran's nuclear program. Nat gas not much going on today after plummeting to its lowest level in ten years on record high inventories. Gold is -- today that just about 1% marking a one week high on disappointing jobs data. And bond prices are up as investors see increase chances for QE3. Juvenile honest bond prices went Fed Chairman Ben Bernanke hit the podium later today. Looking at the recent job's data and Jim Bianco of Bianco research season fed acting by June -- QE3 to help the economy and he sees that and using some already discussed. So I think it'll be more in the terms of mortgage financings to be what the market is focused on chairman Bernanke's statements in the past -- talked about. They need to keep mortgage rates down so that they would expand the Fed's balance sheet again. Due to purchases of mortgages and another way to be very similar QE1 has QE1 was dominated by mortgage purchases as well -- -- So this quarter was already looking -- at least in terms of IPS thanks to you. Based on the course but -- -- calendar this week is raising hopes very strong season across the board it's the busiest week for offering so far this year. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Luxury luggage maker to me and PE firm oak tree capital management. Just how weak is the IPO market proceeds for -- nearly 60%. In the first quarter from a year ago according to Thomson Reuters -- a right after some stocks to watch let's go to Reuters markets correspondent Ryan let's tell. Here's a great wolf for rising today -- day after KSL capitol meeting offering hard to buy the company. That offer topped the previous one from Apollo global right now great wolf that's up more than 10% above seven dollars a share which was the offering price. But it is over that prizes an indication that some investors think a new higher offer may -- -- Simpson. One more stuff on our radar today Molly Clark shares right now. Our just about 4% after the miner sent reserves of rare earth minerals. As mountain pass California site have risen -- -- -- and I'm Jen Rogers this is writers.