Texas Instruments Inc's second-quarter profit beat Wall Street expectations but the company warned that its third-quarter revenue would be weaker than usual for this time of year as customers are cautious due to global economic uncertainties.
Shares of TI, which makes chips for a wide range of products such as cellphones and industrial equipment, fell 1 percent in extended trade after it said Monday that orders weakened in June and that its backlog for shipments due in September is also lighter than expected.
Network equipment maker Cisco Systems said on Monday that it plans to cut about 1,300 jobs as part of ongoing efforts to restructure the company.
"We are performing a focused set of limited restructurings that will collectively impact approximately 2 percent of our global employee population," the company said in an emailed statement.
These actions are part of a continuous process to simplify the company and assess the economic environment in certain parts of the world, it said.
U.S. wireless carrier Sprint
Sprint said its new Integrated Insurance Solutions unit would let companies offer what are known as "usage-based insurance" programs.
Such programs, most notably Progressive Corp's
Navtrak (Salisbury, USA), which supplies GPS technology for fleet-management services, has been acquired by Software-as-a-Services (SaaS) company Telogis (Aliso Viejo, USA).
Telogis says the takeover will strengthen its position in the market for location-based services.
Utility company AEP Texas has signed a new agreement with Landis+Gyr, owned by Toshiba and the Innovation Network Corporation of Japan, for the installation of smart meters across its entire service territory.
AEP had previously contracted Landis+Gyr to provide 720,000 of its “Gridstream” meters, 500,000 of which have now been deployed. Under the new deal, Landis+Gyr will provide an additional 280,000 meters to the rural areas of AEP’s service territory not covered as part of the original agreement.
Apple Inc (AAPL.O) and Samsung Electronics Co (005930.KS) began the latest round of their long-running global patent war on Monday as an Australian judge started hearing evidence for an anticipated three-month long trial.
Apple and Samsung have been locked in an acrimonious battle across 10 countries involving smartphones and tablets since April 2011, with the Cupertino, California-based company filing a suit in Australia saying the touch-screen technology used in Samsung's new Galaxy 10.1 tablet violates Apple patents.
AT&T Inc is following bigger rival Verizon Wireless with a new type of family plan that will significantly raise its fees for data services, such as mobile Internet.
But, unlike its rival, AT&T (Dallas, Texas, USA) said the plan will be an option, rather than a requirement, for new customers. AT&T customers and some Verizon (New York) customers upgrading to a new phone will also be able to keep their old plans, the companies said.
Exalt Communications, a provider of next-generation microwave backhaul systems, last week announced that Coast Radio Company, Inc. has selected Exalt microwave backhaul systems to replace leased T1 connections among its multiple FM radio stations, main broadcast sites, and transmission booster sites located throughout the San Francisco Bay area.
The wireless backhaul network built using Exalt microwave systems will also extend IP communications to all sites, add advanced management features, and provide increased bandwidth, says Exalt (Campbell, Calif., USA).
Google unit Motorola Mobility said on Tuesday it has taken steps to avert an interruption of U.S. imports and sales of its smartphones after the devices were found to infringe on a Microsoft patent.
The importation to the United States of some Motorola Mobility (Libertyville, Ill., USA) smartphones was supposed to stop Wednesday as the result of an International Trade Commission ruling that the phones infringed on technology that makes it possible for consumers to use the devices to generate meeting requests and schedule gatherings.
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