Stocks to Watch: Apple, Amazon

NEW YORK -- The U.S. International Trade Commission ruled Tuesday that certain of Apple's ( AAPL) iPod and iPad devices violated a patent held by rival Samsung.

The victory for Samsung means a ban on imports of Apple's iPhone 4 and a variant of the iPad 2.

Because the devices are assembled in China, the import ban would end Apple's ability to sell them in the U.S., The Associated Press reported.

The ruling from the ITC could be vetoed by President Obama, who has 60 days to invalidate Tuesday's order.

Apple said it would appeal the ruling.

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Amazon.com ( AMZN) is planning a major roll-out of an online grocery business that it has been quietly developing for years, Reuters reported, citing two people familiar with the situation.

One of the people familiar with AmazonFresh's expansion plans told Reuters that new warehouses will have refrigerated areas for food, but also space nearby to store up to 1 million general merchandise products, in some cases.

The company has been testing AmazonFresh in its hometown of Seattle for at least five years, Reuters noted.


IBM ( IBM) is buying cloud computing company SoftLayer Technologies, which has 13 data centers in the U.S., Asia and Europe, for an undisclosed amount.

Reuters had reported in March that IBM was among several suitors for SoftLayer in a deal that could go for more than $2 billion.

The acquisition is expected to be completed in the third quarter.


Homebuilder Hovnanian ( HOV) is expected by analysts to report on Wednesday a fiscal second-quarter loss of 5 cents a share on revenue of $408.6 million.


Brown-Forman ( BFB), the maker of Jack Daniels whiskey, is forecast to report fiscal fourth-quarter earnings of 46 cents a share on revenue of $861.7 million.

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-- Written by Joseph Woelfel

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