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Apr 24, 2014

Apple resets the clock as investors await next big thing

SAN FRANCISCO (Reuters) – Apple Inc just bought itself some much-needed time.

On Wednesday, the company surprised Wall Street with news that it sold more iPhones in the March quarter than even the most bullish analysts had expected. It threw another $30 billion into an already sizeable stock buyback program and instituted an 8 percent quarterly dividend increase to boot. And profits rose by an unexpected 7 percent.

Apr 23, 2014

Apple expands buybacks by $30 billion, OKs seven-for-one stock split

SAN FRANCISCO (Reuters) – Apple Inc has approved another $30 billion in share buybacks till the end of 2015 and authorized a rarely seen seven-for-one stock split, addressing calls to share more of its cash hoard while broadening the stock’s appeal to individual investors.

The company also approved a roughly 8 percent increase in its quarterly dividend to $3.29 per share.

Apr 23, 2014

Apple expands buybacks by $30 billion

SAN FRANCISCO (Reuters) – Apple Inc (AAPL.O: Quote, Profile, Research) has approved another $30 billion in share buybacks till the end of 2015 and authorized a rarely seen seven-for-one stock split, addressing calls to share more of its cash hoard while broadening the stock’s appeal to individual investors.

The company also approved a roughly 8 percent increase in its quarterly dividend to $3.29 per share. Activist investor Carl Icahn, who had famously called on the iPhone maker to boost its buyback program, tweeted his approval of the move on Wednesday. Shares of the company, which have remain mired around the $500 to $550 range since the start of the year, jumped 7 percent to $561.51 in after-hours trade.

Apr 23, 2014

Apple expands buybacks by $30 bln, OKs 7-for-1 stock split

SAN FRANCISCO, April 23 (Reuters) – Apple Inc has
approved another $30 billion in share buybacks till the end of
2015 and authorized a rarely seen seven-for-one stock split,
addressing calls to share more of its cash hoard while
broadening the stock’s appeal to individual investors.

The company also approved a roughly 8 percent increase in
its quarterly dividend to $3.29 per share.

Apr 17, 2014

Sina Weibo skyrockets in debut, sweeping aside censorship concerns

SAN FRANCISCO (Reuters) – Shares of Weibo Corp (WB.O: Quote, Profile, Research, Stock Buzz) rose 19 percent in their U.S. debut on Thursday, sweeping aside concerns that Chinese censorship will hurt the growth of the country’s Internet sector and broader worries about lofty tech-stock valuations.

Investors are scrutinizing the biggest debut of a Chinese Internet company in years, hoping for clues as to demand for the highly anticipated IPO of far larger e-commerce giant Alibaba Group Holding Ltd (IPO-ALIB.N: Quote, Profile, Research, Stock Buzz).

Apr 16, 2014

Alibaba’s growth accelerates, U.S. IPO filing expected next week

SAN FRANCISCO (Reuters) – Alibaba Group Holding Ltd’s revenue growth accelerated in the last quarter of 2013, a timely lift for the Chinese Internet company as it prepares to file a prospectus next week for its highly anticipated initial public offering.

Alibaba is expected to file prospectus for the share sale as early as Monday, sources said, as it prepares for the largest U.S. IPO since Facebook Inc’s 2012 coming-out party. Alibaba had no comment on the prospectus filing, a spokeswoman said.

Apr 15, 2014

Alibaba’s growth quickens in time for landmark U.S. IPO

SAN FRANCISCO (Reuters) – Alibaba Group Holding Ltd accelerated revenue growth in the crucial fourth quarter, the company reported on Tuesday, a timely lift for the Chinese Internet company as it prepares for a highly anticipated public offering.

Alibaba’s resurgence helped lift shares in Yahoo Inc, which owns about 24 percent of the Chinese company and is highly sensitive to Alibaba’s growth prospects and valuation.

Apr 9, 2014

HP pays $108 mln to settle foreign bribery probes

SAN FRANCISCO/WASHINGTON April 9 (Reuters) – Hewlett-Packard
will pay $108 million and one of its subsidiaries will
plead guilty to bribery charges over its role in a scheme to
secure a contract with a Russian government office, the Justice
Department said on Wednesday.

HP units in Poland and Mexico also resolved criminal charges
related to contracts in those two countries, the department
said.

Mar 20, 2014

HP CEO says to flesh out entry into 3D-printing market in June

SAN FRANCISCO, March 19 (Reuters) – Hewlett-Packard Co
will outline plans to enter the commercial 3D-printing
market in June, saying it has solved a number of technical
problems that have hindered broader adoption of the high-tech
manufacturing process.

HP’s foray is set to give added momentum to a fledgling
industry so far dominated by smaller players like Stratasys
unit Makerbot, and could help counter criticism that
the sci-fi-like technology is over-hyped and still too immature
for widespread consumer adoption.

Mar 5, 2014

Apple’s new finance steward Maestri takes over $160 bln cash haul

SAN FRANCISCO, March 4 (Reuters) – Apple Inc’s
Chief Financial Officer Peter Oppenheimer will retire and hand
the reins to Luca Maestri in September, entrusting to the
Italian-born executive a cash pile the size of Vietnam’s economy
and the difficult task of guiding Wall Street’s expectations.

The 50-year-old born in Rome is taking over with Apple at a
crossroads. Investors continue to clamor for the company to put
its industry-leading $160 billion hoard to better use than just
parked overseas, while rivals Google and Facebook
shell out tens of billions of dollars snapping up
cutting-edge tech companies like Nest and WhatsApp.

    • About Edwin

      "Based in Los Angeles, I oversee company news coverage of much of the U.S. West Coast, including such corporations as Apple, Google and Microsoft. Previously, I was bureau chief for Hong Kong and Shanghai and oversaw coverage for all corporations in China and Hong Kong."
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