- U.S. aerospace company Textron Inc (NYSE:TXT) won a $279 million ruling on Friday against Chinese drone maker DJI Technology for patent infringement by the latter, Reuters reports.
- After a week-long trial, the jury agreed with subsidiary Textron Innovations Inc that DJI’s drones violated the rights of two drone flight control systems.
- A DJI spokesperson proposed to contest the ruling and stated, “Textron is a military helicopter company. DJI is a civilian drone company. No commonality exists between the technologies.”
- Textron prosecuted DJI in 2021, claiming several types of DJI drones with automatic hovering capabilities work in the same way as its patented technology.
- Last October, the U.S. Department of Defense banned Americans from investing in DJI and other Chinese companies, citing their ties to the Chinese military.
- Price Action: TXT shares closed higher by 0.10% at $68.00 on Monday.
Fear & Greed Index Moves To ‘Fear’ Zone; US Stocks Settle Sharply Lower
The CNN Money Fear and Greed index moved to the "Fear" zone following a sharp drop in the US stocks.
Banks and other financial shares fell sharply on Thursday ahead of a key payroll report that could provide some insights to future rate hikes.
