Market News
Intel (INTC)
Intel Corporation was sued by New York Attorney General Andrew Cuomo, who accused the Company of scheming to maintain monopoly power in the market for microprocessors.
In a lawsuit filed in a Delaware federal court, Cuomo said Intel violated state and federal antitrust laws through a 'systematic worldwide campaign' of illegal threats, bullying and coercion designed to maintain a stranglehold on the market for microprocessors for personal computers. He said the Company for several years has bribed or coerced computer makers such as Dell Inc, Hewlett-Packard Co and International Business Machines Corp to use its microprocessors or not use those of rivals, in exchange for 'billions of dollars' of payments.
Nov 5 · 3:13:00 PM · Source: Reuters · Related: Dell
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by Michael Oliveto
Dell (DELL)
Dell allegedly received billions of dollars in payments over a four-year period to use chips made by Intel Corp., payments that sometimes totaled more than the computer maker's reported profits for a fiscal quarter, according to a lawsuit filed on Wednesday.
Dell, the world's third-biggest computer maker based on shipments, was allegedly paid about $6 billion between February 2002 and January 2007, according to the lawsuit. In one fiscal quarter, the lawsuit says payments from Intel constituted 116% of Dell's reported net income. The allegations against Intel are part of an 83-page lawsuit filed by New York State Attorney General Andrew Cuomo. The lawsuit alleges Intel paid computer makers to discourage them from using chips made by competitor Advanced Micro Devices Inc. (AMD). Other computer makers alleged to have dealt with Intel include Hewlett-Packard Co. (HPQ) and International Business Machines Corp. (IBM).
Nov 5 · 3:02:00 PM · Related: Intel
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by Michael Oliveto
Junk Bonds
Bloomberg is reporting that the global speculative-grade default rate rose to 12.4 percent in October, the highest proportion of defaults since the Great Depression, according to Moody’s Investors Service.
“The global default rate is now likely near its cyclical peak, as indicated by a rapidly slowing pace of defaults in recent months,” said Kenneth Emery, the director of corporate default research at Moody’s. The firm’s model predicts eight to 10 defaults per month on average for the coming year, down from the rate of 20 per month for the past year.
Nov 5 · 3:01:00 PM · Source: Bloomberg.com
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by Rich Pike
IBM (IBM)
IBM launched $2 billion in notes on Tuesday. The $750 million two year floating rate note was launched at four basis points over three month Libor.
The $1.25 billion fixed rate note maturing in May 2013 was launched at 70 basis points over comparable Treasury yields.
Nov 5 · 2:51:00 PM · Source: Reuters
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by Michael Oliveto
IBM (IBM)
IBM announced the launch of its Health Analytics Solution Center, part of a network of global centers addressing the growing demand for advanced analytics needed to help hospitals and medical staff improve decision-making and provide higher quality care.
The center will be hosted in the IBM Global Solution Center in Dallas and will employ more than 100 health analytics experts, technical architects and specialists, with access to hundreds more health industry experts from across IBM, including experts from IBM's Business Analytics and Optimization consulting organization and IBM Research.
Nov 5 · 2:48:00 PM · Source: PR Newswire
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by Michael Oliveto
IBM (IBM)
IBM and Dassault Systèmes today signed an agreement under which Dassault intends to acquire IBM sales and client support operations encompassing Dassault’s Product Lifecycle Management (PLM) software application portfolio, as well as customer contracts and related assets, for approximately $600 million in cash.
The transaction is expected to be completed in the first half of 2010, subject to the finalization of local agreements and completion of regulatory processes and applicable labor relations requirements in various countries.
Nov 5 · 1:48:00 PM · Source: PR-AU
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by Michael Oliveto
Nordstrom (JWN)
Nordstrom, Inc. Thursday today reported a 6.5 percent increase in same-store sales for the four-week period ended October 31, 2009 compared with the four-week period ended November 1, 2008. Preliminary total retail sales of $607 million for October 2009 increased 14.8 percent compared with total retail sales of $529 million for the same period in fiscal 2008.
Nov 5 · 1:46:00 PM · Source: Company News
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by Larry Etter
IBM (IBM)
IBM Corporation announced a strategic agreement for IBM to transform and manage the information technology (IT) infrastructure of QBE's UK and Western European offices.
The partnership underpins a major change program at QBE and covers the development and maintenance of QBE's IT support services including Helpdesk, Desktop, Data Centre, LAN, WAN and Disaster Recovery.
Nov 5 · 1:44:00 PM · Source: Reuters
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by Michael Oliveto
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