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From Fnno.com, this is the Financial News Network. Here's a few things to watch for in the financial world today August 28.Lexmark (NYSE:LXK) announcing jobs cuts and the closing of its inkjet business to transfer focus to other business units. The printer maker said it will no longer make their inkjet printers and will instead sell its more sophisticated laser printers. In response to the closing of one of its business units, 1,700 jobs will be cut and a plant in the Philippines will close by the end of 2015. Lexmark will also take a $160 million pre-tax charge related to its restructuring.Sanderson Farms (NASDAQ:SAFM) seeing better third quarter profits on higher poultry prices. The U.S. chicken producer posted an EPS of $1.25, higher than the $1.20 analysts were expecting. Revenue for the quarter jumped 22% to $624.9 million, also above the street's estimate of $620 million. The main reason for the jump is the price of chicken, which rose 8.6% in the quarter. The recent drought caused crop prices to rise which ultimately causes livestock prices to rise as well. Finally, the recent Apple/Samsung trial has caused a shake up in the mobile phone industry. The ruling, which said Samsung infringed on many of Apple's design and software patents, has caused concern among businesses competing with the two companies. Many owners and investors are worried the trial is just a slippery slope that could cause a drop in competition and a spike in prices. Although Samsung was hurt the most by the case, Google felt some pressure with investors believing its mobile operating system Android will be on the chopping block next. No matter what though, this type of lawsuit will continue to shake up the mobile sector and any company with a stake in it will be something to watch today.Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.
|What to Watch: August 28, 2012|
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