Why Are Sonos Shares Trading Higher?

Sonos Inc SONO won a U.S. trade agency ruling that will limit the imports of some phones, laptops, and speakers made overseas by Alphabet Inc's GOOG GOOGL Google, Bloomberg reports.
The U.S. International Trade Commission issued the ban on December 6 after affirming a judge's findings that the devices were using Sonos's patented inventions for home-audio systems without permission.
Google has 60 days to implement pre-approved software changes to avoid the ban.
Google needs to stop selling products that have already been imported that infringe the Sonos patents, the commission said.
The report noted that the case involved many Google products with sound systems, like the Nest Hub, Nest Wifi point, Pixel smartphones, and Pixelbook laptops.
Sonos has said its ultimate goal is to have Google pay royalties.
Price Action: SONO shares traded higher by 3.64% at $29.93 on the last check Friday.

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