Apple, Cisco gain in premarket trading

“Apple Inc. shares rose in premarket trading Thursday after the MacIntosh [sic] computer and iPod maker resolved a dispute with Cisco Systems Inc. over the use of the name ‘iPhone,'” The Associated Press reports.

“The companies said they settled Cisco’s trademark-infringement lawsuit, and agreed to share the name and work together on future products. Cupterino [sic], Calif.-based Apple announced its multimedia iPhone on Jan. 10, and Cisco filed suit the next day claiming it owned the moniker,” AP reports.

AP reports, “Apple shares gained $1.30, to $90.53, in premarket electronic trading. The stock closed at $89.53 Wednesday on the Nasdaq Stock Market. Shares of Cisco, of San Jose, Calif., added 18 cents to $27.55, after closing at $27.38 on the Nasdaq.”

Full article here.

Related article:
Cisco and Apple reach agreement on ‘iPhone’ trademark – February 21, 2007

12 Comments

  1. Can someone please remind the folks at the Associated Press that Apple Inc make Macintosh Computers and not MacIntosh Computers. That’s not the kind of mistake we should be seeing from the AP for cry’n out loud. I know, I know, it could just be a typo but it’s the Associated Press…

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