Updated from 1:18 p.m. EST
A week after being found liable for infringing three patents, Ariba said it will pay $37 million to ePlus, a software company, during the second quarter, which ends March 31. ePlus had originally claimed royalty damages of $76 million to $98 million, and the judge had the right to award ePlus three times the actual damages awarded. The settlement, however, ends all litigation and dismisses the case in its entirety. What's more, Ariba and ePlus entered into a cross-licensing agreement, "which will ensure that Ariba's customers and partners will be unaffected by ePlus' infringement claims against Ariba," according to Ariba. Shares of Ariba traded up $1.36 to $9.63.
Cypress Semiconductor (CY - Get Report) fell 3.7% after the company threw in the towel on its MRAM commercialization plans. The company said that it would sell its Silicon Magnetic Systems subsidiary and remove it from its books by the end of the first quarter. Cypress said that its decision to sell the unit was based on its belief that the 1T-1MTJ MRAM technology would not be able to successfully attack the SRAM market, meaning that MRAM would be a niche technology with higher bit pricing than SRAM. "While a niche MRAM business could have been a profitable addition to Cypress' portfolio of products, we currently have more attractive places to invest than in the capital-intensive MRAM business," Cypress said. Shares traded down 51 cents to $13.19.Shares of Taser International (TASR - Get Report) rose 7.6% after the company received four orders for its stun guns. Three of the orders came from police departments in the United States and were of the follow-on variety. The fourth order came from the Singapore National Police Force, which placed an initial order for 126 Taser X26 devices. In all, the orders totaled more than $675,000. Shares traded up $1.03 to $14.51.