Polypore International Inc. (PPO) announced after the bell Friday that it entered into a Settlement and License Agreement with Sumitomo Chemical which ends all outstanding worldwide litigation between the two companies related to Polypore's intellectual property rights on battery separator coating.
Polypore International gapped open higher Monday and climbed during the first hour of trade, before settling into a narrow range. Shares finished up by 1.91 at $39.92 on above average volume. The stock broke out to nearly a 2-month high and re-crossed its 50-day moving average.
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