Modavox, Inc., an Internet broadcasting pioneer and holder of several patented technologies, yesterday filed a Complaint in the United States District Court for the Northern District of California, asserting two Causes of Action against Yahoo! for Patent Infringement related to Modavox-owned United States Patent No. 6,594,691 (”Method and System for Adding Function to a Web Page”) and United States Patent No. 7,269,636 (”Method and Code Module For Adding Function to a Web Page”). Modavox’s Complaint specifically asserts that Yahoo! has operated a business for profit that uses Modavox’s technology claimed and described in the ‘691 and ‘636 Patents without having sought or received Modavox’s authorization to use its patented technology.

Nathaniel T. Bradley, Chief Technology & Product Officer at Modavox, commented, “Our patented technology is foundational to a specific targeted Internet advertising delivery method utilized by the Yahoo! Advertising business and used previously by the targeted advertising delivery operation of Blue

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• Wal-Mart (NYSE:WMT) reported estimate-topping results of 84 cents a share, three cents above Zacks estimates of 81 cents, on revenues of $98.67 billion, slightly below estimates of $99.50 billion. Comparable sales eased 0.4% from last year. The firm raised fourth quarter and full-year guidance to a range of $1.08-$1.12 for the quarter and $3.57-$3.61 for the year

• Kohl's (NYSE:KSS) reported results of 63 cents a share, above Zacks estimates of 61 cents, on revenues of $4.1 billion, above Zacks projections of $4 billion

• Banking analyst Richard Bove strongly advised purchase of Bank of New York Mellon (NYSE:BK) shares, saying the firm's multiple should be twice current levels due to growth prospects

• Motorola (NYSE:MOT) is considering sale of its Home and Networks Mobility division as part of its turnaround plan. Analysts value the unit at $3-$5 billion

• Hewlett-Packard (NYSE:HPQ) said it agreed to acquire 3Com (NASDAQ:COMS) for $7.90 per share,

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We are lowering our six-month price target on ValueClick Inc. (VCLK) to $11.00 but maintaining our Neutral rating on the stock. The company provided disappointing guidance for the coming quarter, which was much below Zacks Consensus Estimates. The unexpected weakness in the Comparison Shopping segment and slower international business, particularly in Europe, will have a negative impact on revenue growth going forward. Thus we are lowering our revenue estimates for the fourth quarter and full year 2009. The Comparison shopping segment is expected to decline in the mid-to-high teen percentage range in the coming quarter, affected by Yahoo!'s (YHOO) new ad quality ranking system. Moreover, large Web portals such as Google (GOOG), Yahoo! and MSN will increase competition for ValueClick’s display ad business. ValueClick’s third quarter earnings were above Zacks Consensus Estimates as well as above management’s expectations, as Comparison Shopping remained strong ...

• Goldman Sachs (NYSE:GS) added Cytec Industries (NYSE:CYT) to its Conviction Sell List, with a target of $31.  The analyst warned of the bleak outlook for the late-cycle aerospace industry, and economic uncertainties in Europe, which represents 40% of sales

• JP Morgan (NYSE:JPM) plans to reinstate 401K matching programs starting with 2009 as well as plans to hire 1,200 mortgage officers

• Yahoo (NASDAQ:YHOO) CEO Bartz said the company is hiring again as the firm expects to increase its operating profit margin to the 15-20% range on cost cutting and sales growth

• Adobe Systems (NASDAQ:ADBE) said it plans to cut 680 jobs, or about 9% of its workforce, as part of a restructuring plan.  The company said the move would result in pre-tax charges of $65 million to $71 million, with $18 million to $20 million to be taken in the fourth quarter

• Monsanto (NYSE:MON) confirmed its full-year 2010 earnings outlook

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“I think stocks are topping out, commodities are topping out and the dollar is making a bottom,” says Robert Prechter, president of Elliott Wave International and author of “Conquer the Crash“.

According to Yahoo Finance - Tech Ticker, Prechter also makes the seemingly counterintuitive argument that the dollar will rally because there’s so much debt, rather than being doomed because of it. “If the economy turns sour again in 2010, as he predicts, Prechter says the dollar will benefit as more dollar-denominated IOUs get called by creditors seeking to shore up their own balance sheets, as was the case in 2008.

“A sustained rally in the dollar would have devastating consequences for stocks, emerging-market assets, high-yield debt and commodities. But gold might be the exception, because it represents ‘real money’ and more people are questioning the global paper money system, Prechter says.”

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• Visa (NYSE:V) reported earnings of 74 cents a share, 3 cents above Zacks estimates on revenues of $1.9 billion above estimates of $1.8 billion. The company expects 2010 revenue growth at the lower end of its 11-15% range, but 2011 growth above 20%

• International Paper (NYSE:IP) reported third quarter results of 37 cents a share, 14 cents above Zacks estimates, on inline revenues of $5.92 billion, off 13.1%. According to the company, at the end of its third quarter, "we began to see some modest improvements in demand in some segments of our paper and packaging businesses"

• Yahoo's (NASDAQ:YHOO) analyst meeting is due to be held at 11:00 ET

• Arcelor Mittal (NYSE:MT), the world's largest steel company, reported a $903 million third quarter profit, noting "We have seen the first signs of recovery in the third quarter...We should continue to see further gradual improvement through 2010, although the operating

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ValueClick Inc. (VCLK) is set to announce its third quarter results on Oct 27. We expect the company to report in-line third quarter results, if not higher than the guidance, due to the continued deterioration in the lead generation business.   Headquartered in Westlake Village, California, ValueClick is a diversified provider of Internet advertising solutions and online marketing services for online advertisers and website publishers.   ValueClick directly competes only with Marchex (MCHX) for placing web advertisements on affiliate networks. However, large Web portals such as Google (GOOG), Yahoo! (YHOO) and MSN continue to increase competition for ValueClick’s display ad business. Over the long-term, we are very positive on online advertising growth; however, current economic conditions are creating significant headwinds for ValueClick and others in the industry. We have a neutral rating on ValueClick.   Revenue Outlook   For the third quarter, the company expects ...

“The US is an empire in decline, according to Niall Ferguson, Harvard professor and author of The Ascent of Money,” reported Aaron Task of Yahoo Finance - Tech Ticker.

“People have predicted the end of America in the past and been wrong,” Ferguson concedes. “But let’s face it: If you’re trying to borrow $9 trillion to save your financial system …and already half your public debt held by foreigners, it’s not really the conduct of rising empires, is it? Excessive debt is usually a predictor of subsequent trouble.”

The report highlights Ferguson as saying America today is comparable to Britain circa 1900: a dominant empire underestimating the rise of a new power. In Britain’s case back then it was Germany; in America’s case today, it’s China.

“When China’s economy is equal in size to that of the U.S., which could come as early as 2027

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Weak global economic conditions and a downgrade of Well Fargo by prominent banking analyst Richard Bove spooked investors even as Morgan Stanley and Yahoo reported better-than-expected earnings.  The Dow Jones industrial average slipped below the 10,000 level yesterday as markets pulled back in the final hour of trading.

Bove of Rochdale Securities said earnings at Well Fargo (NYSE:WFC) were helped by mortgage-servicing fees rather than improving business trends, and trimmed his rating on the bank to “sell" from “hold."  However, Well Fargo and Morgan Stanley (NYSE:MS), which reported its first quarterly profit in a year, were behind the market’s strength earlier in the session.  Bove also cited accelerating loan losses at the firm for the downgrade.  After Bove’s cut, FBR slashed its rating on the firm to "underperform," questioning Well Fargo's earnings quality.

The Dow Jones industrial average fell below the psychologically important 10,000 level, declining 92.12 points, or

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• Eli Lilly (NYSE:LLY) reported third quarter earnings of $1.20 a share, 18 cents ahead of Zacks estimates, on third quarter revenues of $5.56 billion.  The company said, "Our performance in the third quarter once again was driven by volume-based sales growth, improving gross margins and tight control of operating expenses, allowing us to deliver very attractive earnings growth"

• Yahoo (NASDAQ:YHOO) results beat Zacks estimates of 7 cents, coming in at 13 cents, as the company’s operations benefitted from cost-cutting measures; revenues held steady with last quarter's at $1.13 billion.  According to CFO Morse, "There's a change occurring in Yahoo, that will value that kind of work - that good old-fashioned, get-your-hands-dirty kind of find ways to take costs down or make sure that they don't go up as much as they otherwise would have - type work"

• SanDisk (NASDAQ:SNDK) results also beat projections on earnings of 75 cents, well

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