East Coast Tech Correspondent
Nicola's Feed
Oct 24, 2012

Xerox trims earnings forecast on worsening economy

By Nicola Leske

(Reuters) – Xerox Corp (XRX.N: Quote, Profile, Research, Stock Buzz) trimmed its full-year earnings forecast on Tuesday and said it would take a restructuring charge of up to $100 million to account for a tougher economy as large companies tightened budgets and government had less funding for projects.

“By the time September rolled around, it was very, very clear that we were headed south from a U.S. economy,” Chief Executive Ursula Burns told analysts on a call.

Oct 23, 2012

Xerox trims earnings forecast, shares fall

Oct 23 (Reuters) – Xerox Corp trimmed its full-year
earnings forecast on Tuesday and said it would take a
restructuring charge of up to $100 million after third-quarter
sales were hurt by the strong dollar, weak economic conditions
in Europe and tight government budgets.

Xerox, historically known for its office copiers and
printers, said it plans to take a restructuring charge of $50
million to $100 million. It did not say what the charge was for,
but one analyst said it was in the business services operations.

Oct 23, 2012

Xerox lowers top end of outlook on restructuring charge

By Nicola Leske

(Reuters) – Xerox Corp (XRX.N: Quote, Profile, Research, Stock Buzz) tightened its full-year earnings outlook and said it would take a restructuring charge of up to $100 million after third-quarter revenue was hurt by a strong dollar, weak economic conditions in Europe and tight government budgets.

Xerox, best known for its office copiers and printers, said on Tuesday that it planned to take a restructuring charge of $50 million to $100 million.

Oct 22, 2012

US federal agency to switch to iPhone, drop BlackBerry

Oct 22 (Reuters) – The U.S. Immigration and Customs
Enforcement agency (ICE) said it will end its contract with
BlackBerry maker Research In Motion Ltd in favor of
Apple Inc’s iPhone, dealing a new blow to RIM just
months before it launches a vital new device.

The agency said in a solicitation document posted last week
that it intends to buy iPhones for more than 17,600 employees -
a purchase worth $2.1 million.

Oct 18, 2012

Sprint Nextel assumes majority stake in Clearwire

By Ben Berkowitz and Nicola Leske

(Reuters) – Wireless carrier Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) said it has acquired a majority interest in Clearwire Corp (CLWR.O: Quote, Profile, Research, Stock Buzz) by buying a stake from the company’s founder.

A similar attempt by Sprint to take control of Clearwire last week was scuttled by a dispute with Intel and other investors.

Oct 18, 2012

Wireless boosts Verizon’s third-quarter profit, mum on 2013

By Nicola Leske and Sakthi Prasad

(Reuters) – U.S. telecommunications group Verizon Communications Inc posted a record quarterly profit thanks to its wireless business, even as corporate customers delayed renewing contracts amid continued economic uncertainty at home and abroad.

Verizon said on Thursday it was on track to meet 2012 financial goals, with capital spending for the year expected to be lower than the $16.2 billion total in 2011.

Oct 18, 2012

Wireless boosts Verizon’s 3rd-qtr profit, mum on 2013

Oct 18 (Reuters) – U.S. telecommunications group Verizon
Communications Inc posted a record quarterly profit
thanks to its wireless business, even as corporate customers
delayed renewing contracts amid continued economic uncertainty
at home and abroad.

Verizon said on Thursday it was on track to meet 2012
financial goals, with capital spending for the year expected to
be lower than the $16.2 billion total in 2011.

Oct 16, 2012

IBM revenue hurt by strong dollar, tight IT budgets

By Nicola Leske

(Reuters) – IBM posted a quarterly revenue miss and barely beat analyst expectations for earnings per share as customers put off spending on big ticket items and a stronger dollar hit the company’s top line.

Businesses and governments are holding back on spending on information technology amid economic uncertainty in Europe and ahead of U.S. elections next month.

Oct 16, 2012

IBM third-quarter revenue hurt by strong dollar

By Nicola Leske

(Reuters) – IBM posted a quarterly revenue miss and barely beat analyst expectations for earnings per share as customers put off spending on big ticket items and a stronger dollar hit the company’s top line.

International Business Machines Corp, which has shifted its focus to higher-margin software and services from tech products, said on Tuesday that earnings per share, excluding items, were $3.62, just beating average analysts’ estimates of $3.61.

Oct 16, 2012

Analysis: Softbank deal’s big on size, small on change

NEW YORK/SAN FRANCISCO (Reuters) – It’s this year’s biggest technology acquisition and the largest outbound deal in Japan’s history. But game-changing, it is not.

Softbank Corp’s (9984.T: Quote, Profile, Research) pricey $20 billion bid to buy control of No. 3 U.S. telecoms company Sprint Nextel Corp (S.N: Quote, Profile, Research) marks a bold move by billionaire CEO Masayoshi Son beyond his flagging home market. Some analysts say it hands the U.S. company much-needed firepower to buy peers and build out high-speed networks.