DLTR Dollar Tree Inc

Lexmark International

High Court to Hear Patent-Rights Case

The Supreme Court said Friday it would review Lexmark International Inc.'s power to prevent third-party companies from refilling and reselling patented toner cartridges initially sold by the Lexington, Ky., manufacturer.

The case pits Lexmark against Impression Products Inc., a Charleston, W.Va., printer store that acquired used cartridges and refilled them for resale.

Lexmark sold cartridges under different conditions. Consumers could buy a "regular cartridge" at full price without limits on future use, or a "return program cartridge" for about 20% less, under a "single-use/no-resale" restriction requiring them to return the product to the manufacturer.

The U.S. Court of Appeals for the Federal Circuit, a specialized court that hears patent appeals, sided with Lexmark. But that court frequently has been reversed by the Supreme Court, which has found that its rulings have tended to give more market power to patent holders than Congress or the U.S. Constitution intended.

Separately, the high court agreed to review whether hospital chains with religious affiliations must comply with federal law protecting employee pensions, the Employee Retirement Income Security Act. Both cases will be heard in early 2017.

--Jess Bravin

Whitechapel Bell Foundry

Liberty Bell Maker To Close Its Doors

The British foundry that made the Liberty Bell, London's Big Ben and the clock bells for the city's St. Paul's Cathedral is closing its doors, citing shrinking demand for large church bells.

Whitechapel Bell Foundry Ltd., which calls itself Britain's oldest manufacturing company, plans to cease operations in East London by May. The foundry's owner plans to retire and sell the site and won't take on any new contracts in the interim.

The foundry has moved several times since being established in 1570 but has been at its present site for more than 250 years.

--Saabira Chaudhuri

BIG LOTS

Revenue Declines; Outlook Improves

Big Lots Inc. reported flat comparable-store sales and an unexpected revenue decline in its third quarter but raised its profit forecast for the year.

The retailer reported a profit of $1.4 million, or 3 cents a share, up from a loss of $1.5 million, or 3 cents a share, a year earlier. Revenue declined 1% to $1.11 billion. For the year, Big Lots expects adjusted per-share earnings of $3.55 to $3.60, up from its previous forecast of between $3.45 and $3.55 a share. Analysts polled by Thomson Reuters had expected earnings of $3.53.

--Austen Hufford

(END) Dow Jones Newswires

December 03, 2016 02:47 ET (07:47 GMT)

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