West Coast Financial Editor in Charge
Edwin's Feed
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.

Mar 5, 2014

Apple’s new finance steward Maestri takes over 96 billion pounds cash haul

SAN FRANCISCO (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 clamour for the company to put its industry-leading $160 billion (£96 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.

Mar 4, 2014

Apple’s CFO to hand baton to Maestri in September

SAN FRANCISCO (Reuters) – Apple Inc’s Chief Financial Officer Peter Oppenheimer will retire and hand the reins to Luca Maestri in September, transferring financial stewardship of the world’s largest technology company to the Italian-born corporate controller.

Oppenheimer, 51, had been CFO since 2004 and was the architect behind a $100 billion capital return program established a year ago in response to demands the company do more with its ballooning cash hoard. Maestri is not expected to pursue radical changes to the iPhone maker’s strategy on that front.

Feb 20, 2014

HP reins in revenue decline as turnaround progresses

SAN FRANCISCO (Reuters) – Hewlett Packard Co’s revenue fell less than Wall Street expected in the first quarter and it raised its outlook for fiscal 2014 earnings, as the computing giant grew sales at its two largest businesses and again signaled a better year ahead.

HP, which is in the midst of a multi-year turnaround effort intended to revive growth, is trying to wean the Silicon Valley company off its traditional focus on sales of personal computers and re-orient on computing equipment and networking gear for enterprises.

Feb 19, 2014

Google prepares 34-city push for ultra-fast Fiber service

SAN FRANCISCO (Reuters) – Google Inc is exploring a major expansion of its super-fast “Fiber” TV and Internet service, which could extend the nascent network to 34 more U.S. cities and pose a competitive threat to home broadband providers.

Google executives told reporters on Wednesday the search company has reached out in recent weeks to cities from nine metropolitan areas around the country, including San Jose, Atlanta and Nashville, to discuss the feasibility of building out Fiber, which Google says delivers the Internet at speeds up to 100 times faster than average networks.

Feb 13, 2014

Cisco warns of revenue slide as hardware spending sputters

Feb 12 (Reuters) – Cisco Systems Inc on Wednesday
forecast a 6 to 8 percent revenue slide this quarter,
underlining the network gear maker’s struggle to rekindle demand
in emerging markets like China even as hardware spending
globally sags.

That gloomy outlook, though about in line with Wall Street
expectations, marks another severe decline in sales for the
former high-flying tech company, which has partly blamed its
poor run on a boycott of U.S. equipment after revelations of
American spying efforts globally.

Jan 31, 2014

Amazon warns of possible loss, mulls Prime fee-hike

SEATTLE (Reuters) – Amazon.com Inc missed Wall Street’s estimates for the crucial holiday period and cautioned investors about a possible operating loss this quarter as shipping costs climb, pushing its shares down more than 5 percent.

The world’s largest online retailer faced lofty expectations going into one of the most heavily competitive holiday seasons in years, with retailers vying to out-do each other with steep discounts. It was a contest that many retail industry executives have blamed on Amazon.

Jan 28, 2014

Apple’s China moment still frustratingly out of reach

BEIJING/SAN FRANCISCO (Reuters) – Apple Inc may have to wait a little longer for its watershed moment in China.

A disappointing March-quarter revenue forecast, coupled with surprisingly weak holiday iPhone sales, suggest pundits may have over-estimated initial demand from China Mobile’s 700 million-plus subscribers, a key factor that has pushed its shares 18 percent higher in the fourth quarter.

    • 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."
    • Follow Edwin