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Jul 28, 2010

Akamai profit and cost outlook weigh on shares

NEW YORK (Reuters) – Akamai Technologies Inc’s (AKAM.O: Quote, Profile, Research, Stock Buzz) business outlook disappointed investors who expected greater profit from the growing popularity of online entertainment, sending the shares down 5 percent after-hours on Wednesday.

Higher costs also worried some analysts, although the company said the investment was crucial to support growing demand for online entertainment like high-definition movie downloads and real-time streaming of sports events.

Jul 27, 2010

Tellabs shares fall on AT&T fears but results beat

NEW YORK (Reuters) – Fears that Tellabs Inc (TLAB.O: Quote, Profile, Research, Stock Buzz) may lose some business with top customer AT&T Inc (T.N: Quote, Profile, Research, Stock Buzz) to a rival sent the company’s shares down 7 percent on Tuesday, despite its stronger-than-expected results and outlook.

The communications equipment maker said it was benefiting from a push by phone companies to upgrade wireless networks that support smartphones and other new devices, but cited tough competition among vendors.

Jul 21, 2010

Juniper revenue up but shares dip on modest outlook

NEW YORK (Reuters) – Juniper Networks Inc’s (JNPR.N: Quote, Profile, Research, Stock Buzz) quarterly revenue rose 24 percent as companies resumed spending on network equipment, but the shares fell on disappointment that its earnings outlook was merely in line with Wall Street’s forecast.

Juniper’s second-quarter results and revenue outlook for the current quarter exceeded the market’s estimates, but analysts said the modest profit forecast was a letdown.

Jul 20, 2010

IBM contracts and revenue disappoint

NEW YORK (Reuters) – IBM (IBM.N: Quote, Profile, Research, Stock Buzz) disappointed investors by reporting a decline in new technology services contracts in the second quarter, while a weaker euro hit revenue more than expected, sending its shares down more than 4 percent.

While firm growth in the company’s higher-margin software unit and sales in emerging markets bolstered profit, Monday’s results were not as good as investors had wanted to see from the world’s biggest technology services company.

Jul 20, 2010

IBM gives four executives expanded responsibilities

NEW YORK (Reuters) – International Business Machines Corp (IBM.N: Quote, Profile, Research, Stock Buzz) said Chief Financial Officer Mark Loughridge and senior executives Michael Daniels, Steven Mills and Virginia Rometty would be given broader responsibilities at the company, according to an internal memo obtained by Reuters.

Loughridge, 56, will hold on to his role as CFO, but will be given a broader role as senior vice president of “Finance and Enterprise Transformation,” the memo said.

Jul 19, 2010

IBM contracts, revenue disappoint; shares fall

NEW YORK, July 19 (Reuters) – IBM (IBM.N: Quote, Profile, Research, Stock Buzz) disappointed
investors by reporting a decline in new technology services
contracts in the second quarter, while a weaker euro hit
revenue more than expected, sending its shares down more than 4
percent.

While firm growth in the company’s higher-margin software
unit and sales in emerging markets bolstered profit, Monday’s
results were not as good as investors had wanted to see from
the world’s biggest technology services company.

Jul 16, 2010

Weak euro to hit IBM sales, profit seen solid

NEW YORK (Reuters) – IBM (IBM.N: Quote, Profile, Research, Stock Buzz) is in danger of missing average Wall Street estimates for its second-quarter revenue as the weaker euro dents sales in Europe, which counts for about 30 percent of its revenue.

While strong growth in software and services may bolster International Business Machines Corp’s second-quarter profit, the results on Monday are unlikely to trigger a share rally as investors hunt for higher-growth stocks such as Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz) and VMware Inc (VMW.N: Quote, Profile, Research, Stock Buzz), analysts said.

Jul 16, 2010

Cisco, Juniper to show recovery but margins a worry

NEW YORK (Reuters) – Cisco Systems Inc (CSCO.O: Quote, Profile, Research, Stock Buzz) and Juniper Networks Inc (JNPR.N: Quote, Profile, Research, Stock Buzz) are set to report solid quarterly sales, but an aggressive battle to win contracts may be jeopardizing margins for the network equipment makers.

Analysts say Cisco is lowering prices on routers and other equipment that helps phone carriers and others handle Internet traffic. The rising popularity of overseas rivals like France’s Alcatel-Lucent (ALUA.PA: Quote, Profile, Research, Stock Buzz) and China’s Huawei Technologies HWT.UL is seen adding to the pressure.

Jul 13, 2010

Tyco Electronics to buy broadband company ADC

NEW YORK (Reuters) – Tyco Electronics Ltd (TEL.N: Quote, Profile, Research), has agreed to buy broadband equipment maker ADC Telecommunications Inc (ADCT.O: Quote, Profile, Research) for $1.25 billion in cash, betting on future demand for fiber optics and diversifying away from its historical automotive connector business.

Tyco Electronics said it would pay $12.75 cash per share, a 44 percent premium to ADC’s closing price on Monday.

Jun 24, 2010

Accenture profit beats, shares rise

NEW YORK (Reuters) – Technology outsourcing and consulting firm Accenture Plc reported higher-than-expected quarterly results on Thursday as a recovering economy encouraged companies to invest again.

Accenture’s revenue for the fiscal third quarter ended May 31 rose to $5.57 billion from $5.15 billion a year earlier. That was above analysts’ average forecast of $5.46 billion, according to Thomson Reuters I/B/E/S.