Ericsson issued an injunction by NY State Supreme Court in Airvana case The New York State Supreme Court has issued a preliminary injunction barring Ericsson, Ericsson AB or any party in privity with Ericsson from using, operating, testing or deploying certain Airvana-based EV-DO hardware unless it is executing software that is licensed from Airvana. The Court determined that all of the EV-DO products marketed and sold by Ericsson that were the subject of the preliminary injunction motion were "based on Airvana hardware design". The Court will also conduct a separate, related hearing in April on a second preliminary injunction motion filed by Airvana against Ericsson relating to the Digital Baseband Advanced product marketed and sold by Ericsson. In the second preliminary injunction motion, Airvana seeks the same relief ordered by the Court in yesterday's decision.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: AbbVie (ABBV) assumed with an Equal Weight from Overweight at Barclays... Aduro Biotech (ADRO) downgraded to Perform from Outperform at Oppenheimer... CBOE Holdings (CBOE) downgraded to Market Perform from Outperform at Raymond James... CSC (CSC) downgraded to Neutral from Buy at SunTrust... Cummins (CMI) downgraded to Underperform from Buy at BofA/Merrill... Ericsson (ERIC) downgraded to Underperform from Neutral at Credit Suisse... Gold Fields (GFI) downgraded to Sector Perform from Outperform at RBC Capital... Goodrich Petroleum (GDP) downgraded to Sell from Hold at Stifel... Gorman-Rupp (GRC) downgraded to Neutral from Outperform at Boenning & Scattergood... Joy Global (JOY) downgraded to Underperform from Neutral at BofA/Merrill... Newmont Mining (NEM) downgraded to Neutral from Buy at Citi... Progressive (PGR) downgraded to Neutral from Buy at Citi... Rex Energy (REXX) downgraded to Sell from Hold at Stifel... Total (TOT) downgraded to Equal Weight from Overweight at Barclays... Zumiez (ZUMZ) downgraded to Market Perform from Outperform at William Blair.