Liana's Feed
Jan 26, 2011

Xerox’s forecast, CFO change weighs on shares

NEW YORK (Reuters) – Xerox Corp (XRX.N: Quote, Profile, Research) issued a first-quarter profit forecast that was at the low end of Wall Street estimates and announced the retirement of its longtime finance chief, sending shares down 8 percent.

Xerox, a company best known for its printers and copiers but that is now trying to expand its corporate services business, said its 68-year-old chief financial officer, Lawrence Zimmerman, would step down next month. Luca Maestri, 47, currently Nokia Siemens Network’s CFO, will replace him.

Jan 26, 2011

Xerox’s profit falls, CFO to retire

NEW YORK, Jan 26 (Reuters) – Xerox Corp’s (XRX.N: Quote, Profile, Research, Stock Buzz) profit
fell due to restructuring charges in the fourth-quarter and
its chief financial officer plans to retire next month.

CFO Lawrence A. Zimmerman, 68, will be replaced by Luca
Maestri, the 47-year-old current CFO of Nokia Siemens Networks,
Xerox said on Wednesday.

Jan 25, 2011
via MediaFile

Corning and Xerox bask in SOTU limelight

Photo

Forget Larry Page becoming the new chieftain at Google or Facebook’s Mark Zuckerberg being crowned Time’s Man of the Year — the only two U.S. business leaders who will be sitting in Michelle Obama’s private box tonight at the State of the Union address will be  Xerox’s CEO Ursula Burns and Corning’s CEO Wendell Weeks.

The high profile honors for the decades-old U.S. tech giants just happen to have been conferred in the same week both report earnings.

Jan 25, 2011

Corning’s glass sales rise, resisting trends

NEW YORK (Reuters) – Corning Inc (GLW.N: Quote, Profile, Research, Stock Buzz) increased quarterly sales of glass used in the liquid crystal display screens found on TV sets, and showed its bet on creating a new scratch-resistant glass for smartphones has begun to pay off.

Corning’s fourth-quarter results, which lifted its shares nearly 7 percent on Tuesday, benefited from its ability to buck weak trends in the LCD market.

Jan 25, 2011

Corning boosts LCD market share

NEW YORK (Reuters) – Corning Inc (GLW.N: Quote, Profile, Research, Stock Buzz) increased its share of the liquid crystal display market in the fourth quarter and posted growth in its other segments, sending shares up 5.2 percent on Tuesday.

In addition to LCDs, which are used in flat screen televisions, the specialty glass maker’s sales also improved for its “Gorilla Glass,” a component in smartphones, and fiber optics.

Jan 25, 2011

Corning’s sales, outlook beat estimates, shares rise

NEW YORK, Jan 25 (Reuters) – Corning Inc (GLW.N: Quote, Profile, Research, Stock Buzz) gained
market share in the fourth quarter in the weaker market for
liquid crystal display panels, sending shares up 4.4 percent on
Tuesday.

Demand for LCD panels has slowed as consumers have shown
little appetite for upgrading their televisions once they have
bought their first flat-screens. The weaker market has led to
price cuts among LCD glass makers.

Jan 24, 2011

Trading probe reveals the temptations for ‘experts’

NEW YORK (Reuters) – Expert network firms, currently the focus of a major U.S. insider trading investigation, have never had to work too hard to find midlevel corporate executives willing to moonlight as paid consultants.

With consultants earning anywhere from $200 to $1,000 an hour for a meeting with hedge fund traders, working for an expert network firm — an intermediary company that matches industry consultants with hedge funds — is an easy way for an executive to pad his bank account.

Jan 24, 2011

EA wins new friends with social, mobile games

NEW YORK (Reuters) – Electronic Arts (ERTS.O: Quote, Profile, Research), hurt by an industry-wide slump in video game sales, wants to become a big player in a new game — social and mobile media.

EA is the top publisher of games by revenue on Apple Inc’s (AAPL.O: Quote, Profile, Research) iPad and iPhone, and is concentrating more on its digital business. Sales of the more costly packaged games, like its “Tiger Woods PGA Tour” golf game, have taken a beating since the beginning of the recession.

Jan 21, 2011

Analysis: Trading probe reveals the temptations for “experts”

NEW YORK (Reuters) – Expert network firms, currently the focus of a major U.S. insider trading investigation, have never had to work too hard to find midlevel corporate executives willing to moonlight as paid consultants.

With consultants earning anywhere from $200 to $1,000 an hour for a meeting with hedge fund traders, working for an expert network firm — an intermediary company that matches industry consultants with hedge funds — is an easy way for an executive to pad his bank account.

Jan 21, 2011

Analysis: EA wins new friends with social, mobile games

NEW YORK (Reuters) – Electronic Arts (ERTS.O: Quote, Profile, Research, Stock Buzz), hurt by an industry-wide slump in video game sales, wants to become a big player in a new game — social and mobile media.

EA is the top publisher of games by revenue on Apple Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) iPad and iPhone, and is concentrating more on its digital business. Sales of the more costly packaged games, like its “Tiger Woods PGA Tour” golf game, have taken a beating since the beginning of the recession.