NEW YORK (Reuters) – Hewlett-Packard Co said it aims to boost margins by cutting jobs and reallocating spending to more profitable technology services, shrinking its workforce by a net 3,000 jobs, or 1 percent, over three years.
The move, which will result in a $1 billion charge, comes as rivals like IBM and Cisco Systems Inc vie for supremacy in the lucrative business of fitting out and helping run corporate data centres that handle communications and store huge amounts of information.
NEW YORK (Reuters) – Hedge funds have piled out of Brocade Communications Systems Inc <BRCD.O> this year on weak sales and fading hopes for a buyout, making the stock look like a bargain.
But analysts caution against expecting too much of a rebound until the company shows stronger business results.
NEW YORK/BOSTON (Reuters) – IBM <IBM.N> plans to buy Sterling Commerce from AT&T Inc <T.N> for about $1.4 billion in cash, extending the technology behemoth’s portfolio of business software.
The move comes amid a flurry of software acquisitions by International Business Machines Corp, Oracle Corp <ORCL.O> and SAP AG <SAPG.DE>, as they look to sell a broad set of products and services to large corporations.
SAN FRANCISCO (Reuters) – When Tom Georgens took over over as CEO of storage equipment maker NetApp Inc <NTAP.O> last August, the technology sector was in the midst of a record decline.
He navigated the company as it emerged from the economic storm, watching its stock price climb 56 percent in nine months, nearly triple the gain of rival EMC Corp <EMC.N>.
SAN FRANCISCO (Reuters) – Cisco Systems Inc <CSCO.O> is testing a consumer version of its TelePresence videoconferencing system and expects to begin selling the product late this year for around $500.
Cisco already sells high-end videoconferencing systems to businesses for as much as $300,000 per unit, and analysts have said its challenge would be to come up with a more affordable version.
SAN FRANCISCO (Reuters) – Dell Inc’s <DELL.O> quarterly sales and profit beat expectations but its gross margin fell short of analysts’ forecasts and the computer maker warned that components supply will remain tight.
Dell, whose shares fell 3 percent after the results on Thursday, has been struggling to boost profitability due to both sales of lower-cost personal computers and higher costs of components, including memory.
SAN FRANCISCO, May 20 (Reuters) – Dell Inc’s <DELL.O>
quarterly sales and profit beat expectations but its gross
margin fell short of analysts’ forecasts and the computer maker
warned that components supply will remain tight.
Dell, whose shares fell 3 percent after the results on
Thursday, has been struggling to boost profitability due to
both sales of lower-cost personal computers and higher costs of
components, including memory.
All those reminders to “think before you print” and the use of the email for most official correspondence might make you believe the office printer is no longer so important. The reality, however, is that we print more than ever, according to Vyomesh Joshi, Executive VP of Hewlett-Packard’s imaging and printing group, who sat down with the Reuters Global Technology Summit in San Francisco.
The truth is, even company executives don’t realize might be surprised much printing and printing-related is going on, he says.
SAN FRANCISCO (Reuters) – Brocade Communications Systems Inc <BRCD.O> is optimistic that pent-up demand will fuel recovery in the tech sector although there are still reasons to be wary, a senior executive said on Monday.
Brocade’s chief marketing officer John McHugh said the network equipment maker is not looking for a buyer and is in good financial health, even though analysts have cited its more than $1 billion in debt as a concern for a company with a market value of just $2.9 billion.
NEW YORK (Reuters) – Cisco Systems Inc’s quarterly results topped Wall Street forecasts as a global economic recovery encouraged companies to upgrade their networks, but CEO John Chambers’ cautious tone prompted investors to sell the shares.
Chambers said that while the company was making the most of improving business sentiment and was gaining market share, there was still need for some caution as U.S. employment data was still weak.