Cisco ( (CSCO) ) is cutting jobs as it transitions from hardware to software. In all, 5500 jobs will be cut. The business shift will also result in $400 million in charges. Cisco projected flat revenue in the first quarter and gave an earnings forecast that was shy of analysts's estimates. Oracle ( (ORCL) ) still claims was that Google ( (GOOG) ) had violated copyright when it used key pieces of its java technology to build Android. A court didn't agree with Oracle's claim. However, Oracle believes Google tained the jury's verdict. There's potentially billions at stake as Android is the most used operating system in the world. Nestle's sales are growing but profit is down. The Swiss food company says that's because of weak pricing power. The maker of Kit Kat bars said sales in the United States, Europe and Latin America were strong but China continues to be a problem. Weekly jobless claims are released today as is the Philadelphia Fed Business Index. San Francisco Fed President John Williams speaks today in Alaska.
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