Headline News

Dell (DELL)

Dell Disappoints With Quarterly Profits and Sales

Dell Thursday night reported net income of $337 million, or 17 cents a share, in the quarter that ended on Oct. 30, down from $727 million, or 37 cents a share, it earned in the same period last year. Dell’s revenue fell to $12.9 billion from $15.16 billion,
Earnings and revenues missed Street estimates.

Nov 20 · 1:06:00 PM · Source: Company News
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Adobe Systems (ADBE)

Adobe to Cut 680 Jobs, 9% of Workforce

CNET is reporting that Adobe Systems expects to cut 680 full-time employees, or about 9 percent of its global workforce, as the company tries to align costs in the face of lagging sales. In September, Adobe reported that its fiscal third-quarter profit fell 29 percent amid declining sales.
Sales are down 38% through the 3rd quarter of 2009 compared to 2008. Adobe currently has a PE of 38, which seems very high for a company whose sales are declining at that pace.

Nov 19 · 1:15:00 PM · Source: CNet
Track · email · face · Twitter · digg · COMMENTS
by Rich Pike

Cisco (CSCO)

Cisco Raises Tandberg Bid After Investors Resist

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
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Intel (INTC)

Intel Raises Dividend 12.5%

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
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Electronic Arts (ERTS)

Electronic Arts Has Quarterly Loss

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
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Intel (INTC)

Intel Hit With Antitrust Lawsuit

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
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto

Cisco (CSCO)

Cisco Profit Drops 19%

Cisco Wednesday reported a quarterly profit of $1.8 billion, or 36 cents a share, compared with a profit of $2.2 billion, or 42 cents a share, for the same quarter a year ago. Revenue for the first fiscal quarter in 2009 was $9 billion, down from $10.3 billion during the same quarter a year prior.

Nov 4 · 6:53:00 PM · Source: Company News
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Networks Associates (MFE)

McAfee Revenue Up, Earnings Down

McAfee announced today that it had third-quarter earnings of $36.8 million, or 23 cents a share, down from $48.8 million, or 31 cents a share, a year earlier. Revenue jumped 18% to $485.3 million amid a 25% increase in North America. International revenue grew 11%.

Oct 29 · 8:45:00 PM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Previous · Next