Beyond that, A&F warned that same-store sales will likely decline for the rest of the year, resulting in earnings per share of $3.15 to $3.25, below analyst expectations of $3.49.
A federal judge has ruled in favor of Microsoft (MSFT - Get Report) in a patent case brought against the company by Motorola Mobility.
U.S. District Judge James Robart set royalty rates determining what would be a fair amount for Microsoft to pay Motorola Mobility for use of some of its patented technologies.
In the ruling, Microsoft was ordered to pay about a half-cent per unit for video-decoding technology and three and a half cents for wireless technology. According to Microsoft, that equates to about $1.8 million a year.Motorola Mobility, a subsidiary of Google (GOOG - Get Report), had originally sought 2.25% of the retail price on Microsoft products. Microsoft said that would amount to the company paying Motorola about $4 billion a year for its use of its wireless and video-decoding technology. Microsoft had said $1.2 million annually would be a more reasonable amount to pay. The ruling ends the case filed by Motorola Mobility in November 2010.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.