According to its annual report released Thursday, Twitter said it forked over $36 million to purchase 900 patents from International Business Machines in December. In its 10-K filing with the Securities and Exchange Commission, Twitter said it now has 956 U.S. patents and about another 100 patent applications pending. In its filing Twitter said, “Many companies in these industries, including many of our competitors, have substantially larger patent and intellectual property portfolios than we do, which could make us a target for litigation as we may not be able to assert counterclaims against parties that sue us for patent, or other intellectual property infringement."
U.S. stocks are on the rise Friday morning, following the news that the U.S. added 175,000 jobs in February, 25,000 more than economists had predicted. But with the Dow, Nasdaq and S&P 500 heading upwards on the news, gold is losing the ground it gained earlier in the week on investor fears over the crisis in Ukraine.
U.S. employers stepped up hiring in February despite a blast of harsh winter weather, renewing hopes that the economy could accelerate this year. February's gain of 175,000 jobs, up from January's 129,000, coincided with a rise in the unemployment rate to 6.7 percent from a five-year low of 6.6 percent. The rate rose because more people began seeking jobs but some didn't find them. That's still an encouraging sign. More job hunters suggest that people grew more optimistic about their prospects.
Gold may reassess its views on the U.S. economy next week as it digests a higher-than-expected nonfarm payrolls report. Gold prices ended the week higher, but just barely, as the market gave back most of the gains inspired by geopolitical events following the stronger U.S. Labor Department data. The yellow metal may also look for direction once Chinese economic data is released to see if growth there is slowing. Metals traders will also keep an eye on the platinum group metals, which rose smartly this week on the tensions between Ukraine and Russia and the continued labor issues in South Africa.