Market News

Cisco (CSCO)

Cisco Monday announced a revised recommended voluntary cash offer to acquire TANDBERG. Under the revised terms, Cisco will offer to purchase all the outstanding shares of TANDBERG for 170 Norwegian Kroner per share for an aggregate purchase price of approximately $3.4 billion. Cisco will also increase the interest payable on the offer price to a rate of 3.00% from a rate of 1.75%. This revised offer represents Cisco's final price for this transaction, the company said.
Bloomberg quoted an analyst as saying "the fact they now have a pre-acceptance level of 40 percent increases the likelihood the bid will go through.

Nov 16 · 5:39:00 PM · Source: Company News Release
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by Larry Etter

Intel (INTC)

Intel Corporation Monday announced that its board of directors has approved a 12.5 percent increase in the quarterly cash dividend to 15.75 cents per share (63 cents per share on an annual basis), beginning with the dividend that will be declared in the first quarter of 2010.

Nov 16 · 5:33:00 PM · Source: Company News Release
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by Larry Etter

Apple (AAPL)

Though Apple has shunned the stylus in favor of multi-touch on the iPhone and iPod touch, a new patent application suggests the company is investigating superior handwriting and input recognition via pen.
The patent application, revealed this week, describes a system that would comprehend complex "ink information" created from the use of a pen-like stylus. Entitled "Method and Apparatus for Acquiring and Organizing Ink Information in Pen-aware Computer Systems," the document includes multiple references to "tablet" style computers.

Nov 12 · 1:23:00 PM · Source: Apple Insider
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by Michael Oliveto

Apple (AAPL)

Apple reached an agreement with StarHub Ltd. to start offering the iPhone in Singapore later this year.
StarHub Ltd., in a statement, said it will provide more information on the pricing, tariffs and the date of the device's availability in due course.

Nov 11 · 2:41:00 PM · Source: Reuters
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by Michael Oliveto

Hewitt Associates Inc (HEW)

Hewitt Associations that its fiscal fourth quarter profits rose to $64.4 million, or 68 cents a share, from $31.6 million, or 32 cents a share, a year earlier. The prior year included 17 cents in divestiture and real-estate related charges. Revenue before reimbursements dropped 6.1% to $757.7 million.

Nov 10 · 10:26:00 AM · Source: Company News Release
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by Larry Etter

Oracle (ORCL)

Oracle Corp., the world’s biggest maker of database software, was told by European Union regulators that its $7.4 billion purchase of Sun Microsystems Inc. may break antitrust rules. The European Commission, the EU’s antitrust agency, issued a so-called statement of objections today, Sun said in a regulatory filing. The commission said Oracle’s acquisition of Sun’s MySQL database software causes competition concerns.

Nov 9 · 7:13:00 PM · Source: Bloomberg
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by Larry Etter

Electronic Arts (ERTS)

Electronic Arts said Monday it posted a fiscal second quarter net loss of $391 million, or $1.21 a share, 26 percent higher than the loss from a year earlier. Net sales fell 12 percent to $788 million in the July-September period. The gaming company also said it's laying off 1,500 employees, or about 17 percent, to focus on games that have higher profit margins.
But sales including deferred revenue from online games grew 2 percent to $1.15 billion, inching past Wall Street's expectations.

Nov 9 · 7:11:00 PM · Source: Company News
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by Larry Etter

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

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