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Corporate Summary

•    Sprint Nextel Corp. (NYSE:S) announced that it will cease selling phones and devices that are compatible with Clearwire Corporation’s (NASDAQ:CLWR) network at the end of this year

•    A Michigan jury has discovered that IPG Photonics Corporation (NASDAQ:IPGP) which produces amplifiers and lasers has not violated patent claims of IMRA America Inc.

•    Sony Corporation (NYSE:SNE) is in discussions to purchase the stake of LM Ericsson Telephone Co. (NASDAQ:ERIC) in their mobile phone joint venture

•    Walt Disney Co. (NYSE:DIS) extended the contract of CEO Bob Iger's for  an additional five years through 2016

•    Research In Motion Limited (NASDAQ:RIMM) has reportedly acquired NewBay Software for around $100 million

•    William Blair initiated coverage on Grifols, S.A. (NASDAQ:GRFS) with an “Outperform” rating

•    Barclays Capital initiated coverage on Infosys Technologies Limited (NASDAQ:INFY) with an “Outperform” rating

•    Barclays Capital initiated coverage on Wipro Ltd. (NYSE:WIT) with an “Underweight” rating

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