won't be headed to the
U.S. Supreme Court
This morning, the highest court in the land remanded (or "sent," if you're not into the legal terminology) the case to the lower courts, helping Mister Softee win a small battle in its war with government regulators. The company has been pushing for the case to be tried in the
U.S. Circuit Court of Appeals for the District of Columbia
, not the Supreme Court. The Government disagreed and used some obscure legalese to try and push the case into the laps of justices.
Microsoft gets a square for the block. The case will be heard in appeals court.
Naturally, investors were jubilant at the news, sending the stock, which was near 52-week lows, up $2.25 to $63.50 on 46 million shares, making it the second most actively traded Nasdaq issue.
So how did tech stocks react to the news?
Well, not really too much. The
Nasdaq Composite Index
was right around break-even, coughing up earlier gains of 45 points. It was last down 18 to 3723.
But one particular segment was taking a hit.
Linux-related stocks, those brave souls in competition with Microsoft's dominant
operating system platform (the software that makes your computer more than just parts and wires), have been hurt.
, which makes the
Red Hat Linux
operating system, fell 75 cents to $18.94.
, which makes Linux software, was unchanged at $3.53.
VA Linux Systems
, which, wouldn't you know it, is something of a point-man for Linux-related stocks, took the biggest dollar drop, falling $1.13 to $47.31.