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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.

Jan 23, 2014

Icahn takes another $500 million bite out of Apple

SAN FRANCISCO (Reuters) – Activist investor Carl Icahn picked up another $500 million of Apple Inc shares on Thursday to take his investment in the iPhone maker to $3.6 billion, while ratcheting up his months-long campaign to pry open the company’s cash hoard.

Icahn, who repeatedly has called Apple a “no brainer” even as he wages a campaign to get it to return more cash to shareholders, tweeted his latest move just a day after revealing a position of over $3 billion in the company.

Jan 22, 2014

Icahn blasts Apple again, boosts position to $3 billion

SAN FRANCISCO (Reuters) – Activist investor Carl Icahn lashed out against Apple Inc again on Wednesday, and tweeted that he had bought $500 million more shares in the company in just the past two weeks, bringing his investment in the iPhone maker to over $3 billion.

The billionaire, who has repeatedly urged Apple to return more cash to shareholders, told CNBC later in an interview he intends to buy more stock at some point in “one of the greatest no-brainers of all time.”

Jan 16, 2014

Microsoft considers Ericsson CEO for top job: report

SAN FRANCISCO/STOCKHOLM (Reuters) – Microsoft Corp is considering Ericsson Chief Executive Hans Vestberg as a possible successor to outgoing CEO Steve Ballmer, Bloomberg reported, citing sources briefed on the software giant’s executive search.

The dynamic 48-year-old Swede fits the bill as a media-savvy technology fanatic, but his emergence as a leading candidate for the U.S. company will still come as a surprise to many on Wall Street.

Oct 30, 2013

Sprint promises higher data speeds than rivals

, Oct 30 (Reuters) – Sprint Corp
promised to gradually offer wireless data speeds far in excess
of those offered by bigger rivals like Verizon, as it hopes to
use recently acquired wireless airwaves to regain market share.

At its research labs on the outskirts of San Francisco,
Sprint on Wednesday outlined plans to expand Spark, a service it
is now building with speeds of 50-60 megabits per second, which
is being rolled out initially in five cities: Los Angeles,
Tampa, Miami, Chicago and New York.

    • 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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