Apple (AAPL - Get Report) and electronics maker Ericsson (ERIC - Get Report) have spent the past year or so arguing over a patent licensing deal. Monday, they announced they've finally reached an agreement. As Reuters reports, the two companies have come to terms on how much the iPhone maker will pay for the Swedish firm's technology, which is integral in helping its devices connect to mobile networks.
The two did not give hard numbers on how much revenue the agreement meant for Ericsson, but UBS analysts estimated in a research note the deal likely included a catch-up payment of $420 million, and quarterly payments of around $91 million going forward.
Needless to say, the news pushed Ericsson's stock up markedly, trading 7% higher early before moderating to a close of $9.51, up 4.2%. Apple closed up 1.2% at $107.33.
The bad news keeps coming for troubled Toshiba (TOSBF) . The Wall Street Journal reported Monday the Japanese electronics giant has confirmed it expects a net loss of $4.5 billion for the fiscal year ending in March, including $1.9 billion in restructuring costs in the wake of its recent accounting scandal: The company has admitted to overstating profits by more than $1.2 billion over a seven-year period.
To compensate, it said it would eliminate 7,800 jobs and seek a buyer for its health care unit. This on top of previously announced plans to seek investors for its Westinghouse nuclear subsidiary and its semiconductor unit, and has been negotiating a deal to merge its PC business with that of fellow Japanese electronics giant Fujitsu.
Toshiba closed today down 8.7% at $2.10.
According to Reuters, some union workers at six of Amazon's nine German fulfillment centers have walked off the job in this labor action because of disagreements over pay and working conditions. Some of those strikes at set to last through Christmas Eve.
But if the warehouse workers are hoping the e-commerce giant is going to have a "Christmas Carol" moment and change its ways, the odds at this point do not appear in their favor. Amazon employs about 10,000 permanent workers and an even greater number of seasonal hires in its German fulfillment centers. With the union admitting that it only expects the strikers to number in the hundreds (and with other EU-based warehouses available to pick up any slack), it should come as little shock that Amazon said the labor dispute will have no impact at all on deliveries.
May as well get back to work, Herr Cratchit. "Ebenezer" Bezos isn't feeling it.
Amazon closed today up 0.06% -- practically flat -- at $664.51.
Finally, Stratos Card, whose clever little devices combine all of your credit cards onto one universal credit card, is throwing in the towel, TechCrunch reports. The card, which first hit the consumer market in May, worked just as promised but never found its feet in the market.
The folks at TechCrunch speculate some of its troubles may have been related to being a bit too much on the cutting edge: The unusual-looking cards allegedly confused the store clerks and waiters to whom they were presented for payment.
Long story short, whatever the root cause Stratos suffered a very credit-card-like ending: It just ran out of money.