Briefcase: Japan’s exports, Nike Inc., Cisco Systems, more
•Japan’s exports expanded for a sixth straight month in May as brisk global demand for cars and high-tech products helped shore up a recovery in the world’s second-largest economy. Exports rose 32.1 percent from a year earlier.
•Nike Inc. earned $522 million, or $1.06 per share, for the quarter as revenue and margins improved. That’s up 53 percent from $341.4 million, or 70 cents per share, in the same quarter a year earlier.
•Cisco Systems Inc. said it will invest $1 billion to help foster high-tech innovation in Russia. Russian President Dmitry Medvedev was visiting the computer networking equipment manufacturer as part of a tour of Silicon Valley.
•Verizon Wireless said Wednesday that it will begin selling the Droid X, the follow-up to Motorola Inc.’s popular Droid smart phone, on July 15.
•Independent music licensing company Rumblefish Inc. is giving YouTube uploaders a way to add songs to their videos without infringing on copyrights. The company will sell songs from its catalog of artists for $1.99. The cost includes a license allowing the video creator to use the music legally. The video can’t be used to make money.