Market Roundup (AAPL, CSCO, VZ, T, S, WRC, PVH, BCS)
In a behind-the-scenes look at efforts initiated by Apple (NASDAQ: AAPL) to block handset makers from infringing on its patents, Oppenheimer's Yair Reiner said that the company’s lawsuit against HTC is one of several warning shots that is meant for would-be iPhone killers.
Cisco (NASDAQ: CSCO) has introduced a new type of router that is three times its predecessor's capacity, at 322 terabits/second. This boosts the growth of video transmission. While telecom stocks, such as Verizon (NYSE: VZ), AT&T (NYSE: T) and Sprint Nextel (NYSE: S), have been on the rise, CSCO is witnessing a free fall.
Warnaco (NYSE: WRC) has risen almost 4%, following an upgrade in rating by Credit Suisse to “outperform” from “neutral.” According to Credit Suisse, WRC, which generates more than 80% of its profit from its licensed designer label Calvin Klein, would benefit if it merges with the brand owner Phillips-Van Heusen (NYSE: PVH). The deal will enable WRC to benefit from the expansion opportunities for the label in the international market.
According to the latest reports, Barclays (NYSE: BCS) is surveying the market for a major retail bank that will provide it with a bigger US presence and more deposits. BCS is at present examining the impact of new regulations, including a tax that focuses on liabilities other than deposits. The bank may also seek to open retail operations in Western Europe.
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