Wall Street Brief: Amazon and Nokia EXCLUDE Google, Apple LOSES
On Friday, the Tokyo District Court ruled against Apple Inc.’s (NASDAQ:AAPL) claim that Samsung Electronics Co. had infringed on one of its patents. The ruling, which covers a patent on the synchronization of music and video data on devices with servers, is the first of many patent disputes that will occur between the two companies over in Japan.
In other Apple news, Sharp Corporation hasn’t started its mass production of screens for Apple’s (NASDAQ:AAPL) new iPhone, reported the Wall Street Journal. The company had hoped to start deliveries by this time and now its uncertain when it start. The iPhone’s two other screen suppliers, LG Display and Japan Display, have begun shipments but Sharp’s delay raises concerns on whether Apple can meet demand.
Nomura Holdings Inc. will cut an additional $1 billion in costs by March 2014 as it departs from a global expansion under its Chief Executive Officer Koji Nagai, reported Bloomberg. The cuts will hit its wholesale operations, such as investment banking and equities, said a corporate spokesman. Job cuts will predominately take place in overseas units including Europe.
Amazon (NASDAQ:AMZN) will include Nokia (NYSE:NOK) mapping services in its the new Kindle Fire; this will be unveiled on Thursday, reported Reuters. This comes as a blow to Google (NASDAQ:GOOG) as its Android operating system is used in the Fire. Apple had also dumped Google Maps to instead use its own feature and content from Tom Tom for the iOS 6.
Sears Holdings (NASDAQ:SHLD) is getting kicked out of the Standard & Poor’s 500-stock index. The company has lost its place thanks to its “public float,” going lower than a key threshold, reported a S&P Dow Jones Indices release on Wednesday.
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