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Aug 21, 2013

HP switches executives as revenue slides

SAN FRANCISCO (Reuters) – Hewlett-Packard Co replaced Dave Donatelli with Bill Veghte at the helm of its second-largest business division on Wednesday, reassigning the star executive to a new role identifying potential tech acquisitions as it reported a larger-than-expected 8 percent slide in third-quarter revenue.

The world’s largest personal computer maker recorded revenue of $27.2 billion in the fiscal third quarter, down from $29.7 billion a year earlier, as PC sales continued to slide amid a shift toward mobile computing, and its enterprise business grappled with tepid worldwide information technology spending.

Aug 15, 2013

Dell’s quarterly profit plummets as PC sales shrink

SAN FRANCISCO (Reuters) – Dell Inc, the PC maker embroiled in a takeover battle between its founding CEO and activist investor Carl Icahn, on Thursday reported a 72 percent slide in quarterly earnings as PC sales extended their downward spiral.

Dell once led the world in computer sales and was held up as a model of production-chain innovation, but in recent years has become one of the more prominent victims of PC market erosion from mobile devices.

Aug 14, 2013

Icahn says bigger buybacks can drive Apple shares to $700

SAN FRANCISCO/NEW YORK (Reuters) – Activist investor Carl Icahn said he has amassed a “large position” in Apple Inc and believes the stock could be worth as much as $700 a share if Chief Executive Tim Cook pushed for a larger stock buyback.

The surprise revelation from the billionaire activist caused a stir on Wall Street and pushed Apple’s stock almost 5 percent higher to close at a 7-month high of $489.57 on the Nasdaq on Tuesday.

Aug 13, 2013

Icahn builds large Apple stake, wants larger buybacks

SAN FRANCISCO (Reuters) – Activist investor Carl Icahn said on Tuesday he has built a “large position” in Apple Inc and had a “nice conversation” with CEO Tim Cook about a larger stock buyback, sending the company’s shares to a near seven-month high.

The billionaire with a reputation for pushing aggressive corporate change said on Twitter he planned to talk more with Cook, who has presided over a sharp fall in the share price over the past year.

Jul 24, 2013

Apple’s margins, China sales take shine off quarterly results

SAN FRANCISCO (Reuters) – Investors breathed more easily after Apple Inc turned in a quarterly report card with a pleasant iPhone sales surprise. But the resultant share-price rally may prove short-lived as Wall Street frets about sliding margins and puzzles over a dramatic revenue drop-off in its No. 2 market of China.

Without releasing a new product, Apple sold 31.2 million units of the iPhone – its most important device in the fiscal third quarter – or about 20 percent more than analysts had envisioned.

Jun 11, 2013

Apple unveils music streaming service, revamps iOS

SAN FRANCISCO (Reuters) – Apple Inc unveiled a music streaming service called iTunes Radio and new mobile software on Monday, in the biggest re-design of its operating system since the original iPhone was introduced in 2007.

The new software, designated iOS 7 and announced at Apple’s annual developers’ conference in San Francisco, sports a streamlined design, employs translucency and a fresh palette of colors, and features animation in apps.

Jun 10, 2013

The desktop gets a makeover, courtesy of Apple

SAN FRANCISCO (Reuters) – Apple Inc, known for its bold experiments with computer design, has come up with a radically re-imagined Mac Pro that departs from the venerable, boxy design of the typical desktop personal computer tower.

The company on Monday offered a sneak peek at a top-of-the-line computer destined for store shelves later this year: a sleek cylindrical chassis that, according to Apple, packs several times the processing power of its predecessors but stands just shy of 10 inches.

Jun 10, 2013

Apple unveils ‘Mavericks’ software for Macs, new Pro

SAN FRANCISCO (Reuters) – Apple Inc showed off a new line of Mac computers on Monday, including a sleek, cylindrical-shaped Mac Pro due later this year that will be assembled in the United States.

Executives showed off the computer as Apple kicked off its annual conference for its developers, where it is also expected to unveil a new streaming-music service.

Jun 10, 2013

Apple’s CEO Cook kicks off event, music service expected

SAN FRANCISCO, June 10 (Reuters) – Apple Inc Chief
Executive Tim Cook kicked off the company’s annual confab for
its developers on Monday, where the company is expected to
unveil a new design and revamped features for its iOS mobile
operating system along with a new streaming-music service.

Apple began its product showcase by announcing a new
operating system for the Mac called “Mavericks,” moving away
from its penchant for naming its computer software after big
cats. The new OS can now handle multiple display and “tagging”
of documents, among other new features.

May 16, 2013

Dell’s profit dives as billionaire battle rages on

SAN FRANCISCO, May 16 (Reuters) – Dell Inc, the
subject of a takeover battle between activist investor Carl
Icahn and the company’s billionaire founder, reported a 79
percent slide in profit as personal computer sales continued to

The disappointing results lend weight to Michael Dell’s
effort. The man who started Dell from a college dorm room wants
to take the world’s No.3 PC maker private for $24.4 billion,
arguing that its transformation into a provider of enterprise
computing services, from mainly a computer maker in a shrinking
market, is best done away from public scrutiny.

    • 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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