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CBS (CBS)
CBS Corporation announced today a new employment agreement with President and Chief Executive Officer Leslie Moonves. The agreement supersedes the prior
contract, which was to conclude in 2011, and extends his employment with the
CBS Corporation through February 22, 2015.
Feb 25 · 2:07:00 PM
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by Larry Etter
Oracle (ORCL)
Oracle Financial Services Software today announced the launch of Oracle® FLEXCUBE Investor Servicing 9.0, a process enabled transfer agency and investor servicing solution that helps financial institutions manage the complete fund lifecycle and reduce operational costs through process automation across fund structures, intermediary hierarchies, and investors.
Feb 25 · 2:05:00 PM · Source: Company Press Release
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by Larry Etter
Apple (AAPL)
Apple today announced that it has sold more than 10 billion songs via its iTunes Store. The 10 billionth song, "Guess Things Happen That Way" by Johnny
Cash, was purchased by Louie Sulcer of Woodstock, Georgia.
Feb 25 · 2:01:00 PM
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by Larry Etter
Microsoft (MSFT)
Microsoft Corp. has entered into an intellectual property licensing agreement with Panasonic Corp. to provide it with access to Microsoft’s Extended File Allocation Table (exFAT) technology, the latest generation of Microsoft’s file system.
Panasonic is one of the latest companies to adopt exFAT technology through Microsoft’s new licensing program. The technolog enables rich, ntegrated media experiences for users.
Feb 25 · 1:54:00 PM · Source: Company Press Release
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by Larry Etter
IBM (IBM)
IBM Research has unveiled a breakthrough method based on a mathematical algorithm that reduces the computational complexity, costs, and energy usage for analyzing the quality of massive amounts of data by two orders of magnitude.
This new method will greatly help enterprises extract and use the data more quickly and efficiently to develop more accurate and predictive models.
Feb 25 · 1:48:00 PM · Source: Company Press Release
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by Larry Etter
Blackstone (BX)
Feb. 25 (Bloomberg) -- Blackstone Group LP, the world’s biggest private-equity company, reported fourth-quarter profit of $329.4 million as it resumed deal-making and marked up the value of companies it owns.....“We believe the worst is behind us,” Stephen Schwarzman, Blackstone’s 63-year-old chairman and chief executive officer, said in a statement.....
I believe, as does the market (Blackstone shares closed yesterday at $14, less than half their June 2007 IPO price of $31) that while the worst may indeed be behind us, as Mr. Schwarzman says, Blackstone still has their work cut out for them. They have 8 companies laying in the IPO wings, paying down the debt is crucial for Blackstone, and investors are anxious to see some return on their investments. It will be interesting to watch the path of these eight, market conditions will certainly have to improve form them to come public.
Feb 25 · 9:35:00 AM · Source: Bloomberg
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by Jerry Byrne
Royal Bank of Scotland (RBS)
Feb. 25 (Bloomberg) -- Royal Bank of Scotland Group Plc, Britain’s biggest government-controlled lender, reported a narrower-than-estimated full-year net loss, and increased its pay and bonuses for investment bankers by 44 percent.....RBS, which needed 45.5 billion pounds in taxpayer-funded support, is undergoing the most complicated restructuring of any company in history, Hester said last month. The bank’s 2009 loss is slightly more than the cost of Britain’s war in Afghanistan, which cost about 3.5 billion pounds in 2009, according to House of Commons Defence Committee figures last year.
Oh boy, I can just see the taxayers of Britain now. Can the strikes and protests in London be far behind? Remember the riot at the Group of 20 summit meeting in London just about a year ago.
RBS is one of Britain’s most bailed-out banks. Think of it as their own version of AIG or General Motors, two companies which the gov't control massive stakes. And the bankers are now going to receive a 44% bonus increase?
Feb 25 · 8:45:00 AM
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by Jerry Byrne
Housing
Sales of new homes in January fell 11 percent to an annual pace of 309,000, figures from the Commerce Department showed today. The median sales price dropped 2.4 percent from January 2009 and the supply of unsold homes increased.
The dip in new home sales number was unexpected and the number is the lowest level on record, a sign that an extension of a government tax credit may not be enough to respark demand.
Feb 24 · 10:15:00 AM
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by Larry Etter
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