The court upheld an appeals court's ruling that rejected the software company's $1 billion lawsuit against Microsoft, which claimed the company undercut WordPerfect with its own Microsoft Word program as part of the Windows 95 launch nearly two decades ago.
Novell alleged Microsoft tricked the company into developing WordPerfect for Windows 95 and then canceled the project in order to gain market share with Word. Novell said it then had to sell WordPerfect for a $1.2 billion loss.
The appeals court, though, ruled that Novell's complaint came too late and that it did not make a large enough case that Microsoft was trying to maintain a monopoly on operating systems.
Microsoft also rose thanks to its announcement that it was aware of a flaw in Internet Explorer that could cause specific attacks against users. Microsoft revealed its knowledge of the problem, which could affect Internet Explorer versions 6 through 11, and said it is working on a fix. The security flaw could force a hacked computer to run unwanted software.
The stock was up 3.41% to $41.27 at 10:26 a.m. on Monday.
Separately, TheStreet Ratings team rates MICROSOFT CORP as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation: