During Tuesday’s Afternoon trade, Shares of BlackBerry Limited (NASDAQ:BBRY), lost -2.83% to $8.06, hitting its lowest level.
BlackBerry Limited, and Cisco (CSCO) declared that they have reached a long-term patent cross-licensing agreement covering their respective products and technologies.
As part of the cross-licensing agreement, BlackBerry will receive a license fee from Cisco. Specific terms of the deal are confidential.
“Our agreement with Cisco underscores the value companies place on BlackBerry’s broad and foundational patent portfolio,” said Dr. Mark Kokes, Vice President of Intellectual Property and Licensing, BlackBerry. “With the agreement in place, BlackBerry and Cisco can focus on innovation and continued technical cooperation, allowing our companies more freedom to create leading products and services for customers without the potential for patent disputes.”
“Cross-licensing is an effective way for technology companies to assure freedom of operation and assist remove concerns about patent litigation,” said Dan Lang, Vice President of Intellectual Property, Cisco. “This agreement recognizes Cisco’s patent portfolio, one that is regularly rated among the strongest in the telecommunications and networking industry. We look forward to ongoing to innovate to meet the needs of our respective customers.”
BlackBerry and Cisco have a long history of technical cooperation and intend to further collaborate under this agreement.
BlackBerry Limited provides wireless communications solutions worldwide. The company offers BlackBerry wireless solutions, which comprise the sale of BlackBerry handheld devices; and the provision of data communication, and compression and security infrastructure services enabling BlackBerry handheld wireless devices to send and receive wireless messages and data.
Shares of United States Steel Corp. (NYSE:X), declined -1.44% to $20.60, during its current trading session.
United States Steel Corporation, President and CEO Mario Longhi commended President Barack Obama as he signed the Trade Promotion Authority (TPA) and Trade Adjustment Assistance (TAA) legislation into law.
Longhi’s statement follows:
“I commend President Obama for strengthening our trade enforcement laws by signing Trade Promotion Authority and Trade Adjustment Assistance. This legislation will open new markets for American goods and services, but also clarifies the injury standard in dumping and counterveiling duties cases to better protect our workers and companies from the harm of unfairly traded products.
“I and the more than 34,000 employees who work for United States Steel thank President Obama and our Congressional champions for pursuing responsible fair trade policies. Fair trade is critical to a successful economy, and these laws are another step on our drive to ensure that America remains a global economic force.
“The president and members of his administration have visited our facilities and have seen first-hand the power of American manufacturing and the American worker. He knows that we can compete against any country if the rules apply to all. Recently he took an important first step in the process of leveling the playing field against unfairly traded products and supported fair trade at home and abroad. We look forward to working with members of the administration to ensure that U.S. trade laws and practices are strong and that countries who break our laws are punished before irreparable harm is done.”
United States Steel Corporation produces and sells flat-rolled and tubular steel products in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular).
Finally, Goldcorp Inc. (NYSE:GG), gained 0.28%, and is now trading at $16.41, hitting its lowest level.
Goldcorp Inc., declared the closing of the formerly declared secondary offering of the shares in Tahoe Resources Inc.. A total of 58,051,692 Tahoe common shares beneficially held by Goldcorp were sold at an offering price of C$17.20 per share for gross proceeds of about C$1 billion . The Offering was accomplished through a syndicate of underwriters led by GMP Securities L.P. and BMO Nesbitt Burns Inc. acting as joint book-runners and counting CIBC World Markets Inc., HSBC Securities ( Canada ) Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., Citigroup Global Markets Canada Inc., Credit Suisse Securities ( Canada ), Inc., Goldman Sachs Canada Inc., Laurentian Bank Securities Inc., Merrill Lynch Canada Inc., Morgan Stanley Canada Ltd., Beacon Securities Limited, Canaccord Genuity Corp., Cormark Securities Inc., Dundee Securities Ltd., Macquarie Capital Markets Canada Ltd., Paradigm Capital Inc. and Raymond James Ltd.
“This transaction is compriseent with our long-term commitment to maintaining a strong balance sheet,” said Chuck Jeannes , Goldcorp President and CEO. “The team at Tahoe has done an outstanding job of creating shareholder value and we wish them continued success in the future.”
As a result of the Offering, Goldcorp no longer owns any common shares of Tahoe. Tahoe did not receive any proceeds from the Offering.
Goldcorp Inc. engages in the acquisition, exploration, development, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America. The company primarily explores for gold, silver, copper, lead, and zinc deposits.
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