Market Movers January 11, 2007, 9:18AM EST

Cisco Sues Apple over iPhone Patent

Bernauer steps down from Walgreen; Restoration Hardware posts higher sales; plus more stocks in the news Thursday

Story Tools

Cisco Systems (CSCO) Files a lawsuit in the California district court against Apple (AAPL), seeking to prevent Apple from infringing upon, deliberately copying, and using Cisco's registered iPhone trademark. Cisco says it obtained the iPhone trademark in 2000.

Walgreen Co (WAG) Says David Bernauer is stepping down from his executive duties with Walgreen while remaining chairman of the board, effective today. President and CEO Jeffrey Rein assumes Bernauer's executive duties.

Restoration Hardware (RSTO) Posts 10% higher comp-store sales for the 9-week holiday period ended Dec. 30, 2006, on 22% higher net revenue. Reiterates fourth quarter guidance for 24% to 28% revenue growth, and sees EPS toward the lower end of prior $0.34 to $0.44 guidance.

Airtran (AAI) raises its bid for Midwest Air Group (MEH) to $13.25 per Midwest Air Group share, based on the Jan. 8 closing price of Airtran. The offer consists of $6.625 in cash, 0.5884 Airtran shares for each Midwest Air Group share; and the total equity value of offer is $345 million.

Amdocs Ltd (DOX) Sees fiscal year 2007 revenue of about $2.83 billion to $2.91 billion, lower than its previous $2.89 billion to $2.97 billion guidance. It cites slowing demand for its products and services.

Infosys (INFY) Posts $0.39 vs. $0.26 third quarter earnings per ADS on a 47% revenue rise. Sees fourth quarter revenue of $859 million to $861 million, EPADS of about $0.40; fiscal year 2007 revenue of about $3.09 billion and EPADS of $1.47.

SAP (SAP) Expects 2006 software sales to rise 13.5% (constant currencies), vs. the previously disclosed 15% to 17% (constant currencies) range.

All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report. Standard & Poor's Regulatory Disclosure

Any advice, analysis, or recommendations contained in articles labeled "Insight from Standard & Poor's" reflect the views of Standard & Poor's, which operates separately from and independently of BusinessWeek Online. It is possible that BWOL may from time to time publish information that is not consistent with advice, analysis, or recommendations that are published by Standard & Poor's. Standard & Poor's and BusinessWeek Online are each units of The McGraw-Hill Companies, Inc.