Nokia Corp. (NYSE: NOK) announced Wednesday that it has signed a patent license agreement with Apple Inc. (NASDAQ: AAPL). The agreement will result in settlement of all patent litigation between the companies, including the withdrawal by Nokia and Apple of their respective complaints to the US International Trade Commission. The financial structure of the agreement consists of a one-time payment payable by Apple and on-going royalties to be paid by Apple to Nokia for the term of the agreement. The specific terms of the contract are confidential. This agreement is expected to have a positive financial impact on Nokia's recently revised outlook for the second quarter 2011 of around break-even non- IFRS operating margin for Devices & Services.
General Mills (NYSE: GIS) on Tuesday reaffirmed its sales and earnings targets for the fiscal year that ended May 29, 2011. The company reiterated fiscal 2011 earnings per share guidance of $2.46 to $2.48 excluding mark-to-market effects and a net gain related to certain tax items. General Mills plans to report F2011 results on June 29, 2011.
Danaher Corporation (NYSE: DHR) late Monday announced a proposed public offering of 17,500,000 shares of its common stock. The public offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission. Danaher anticipates using the net proceeds from the proposed public offering to pay a portion of the purchase price of the previously announced acquisition of Beckman Coulter, Inc. and for general corporate purposes if any proceeds remain or if the proposed acquisition does not close.
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