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Feb 12, 2014

Cisco results to reflect sales slump; investors brace for more bad news

NEW YORK (Reuters) – Investors who were shocked by Cisco Systems Inc’s dire financial outlook in its last quarterly earnings report are bracing for more bad news when the network equipment maker reports results on Wednesday.

Cisco warned on November 13 that revenue would decline as much as 10 percent in its second fiscal quarter ended in January and that it would not resume growth for several quarters.

Feb 11, 2014

Sprint still eyes consolidation as it posts smaller loss

NEW YORK (Reuters) – Sprint Corp (S.N: Quote, Profile, Research) Chief Executive Dan Hesse reiterated his call for consolidation in the U.S. wireless market on Tuesday after the No. 3 U.S. mobile operator reported a smaller fourth-quarter loss and subscriber growth that was helped by tablet sales.

Sprint, which is 80 percent owned by Japan’s SoftBank Corp (9984.T: Quote, Profile, Research), has been eyeing a deal with smaller rival T-Mobile US (TMUS.N: Quote, Profile, Research) in order to compete better with market leaders Verizon Wireless (VZ.N: Quote, Profile, Research)(VOD.L: Quote, Profile, Research) and AT&T Inc (T.N: Quote, Profile, Research).

Feb 11, 2014

Sprint reports smaller fourth-quarter loss; subscribers increase

NEW YORK (Reuters) – Sprint Corp (S.N: Quote, Profile, Research, Stock Buzz) reported a smaller fourth-quarter loss than estimated and an unexpected increase in wireless subscribers, sending its shares up 7 percent in early trade.

The company, which is 80 percent owned by Japan’s SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz), said it added 58,000 net subscribers in the quarter compared with the average expectation for a loss of 83,500 subscribers from six analysts contacted by Reuters. Estimates ranged from a loss of 48,000 to a loss of 400,000.

Feb 11, 2014

Sprint reports smaller Q4 loss; subscribers increase

NEW YORK, Feb 11 (Reuters) – Sprint Corp reported a
smaller fourth-quarter loss than estimated and an unexpected
increase in wireless subscribers, sending its shares up 7
percent in early trade.

The company, which is 80 percent owned by Japan’s SoftBank
Corp, said it added 58,000 net subscribers in the
quarter compared with the average expectation for a loss of
83,500 subscribers from six analysts contacted by Reuters.
Estimates ranged from a loss of 48,000 to a loss of 400,000.

Feb 10, 2014

Vodafone may have $30 billion-$40 billion acquisition capacity: CEO

NEW YORK (Reuters) – Vodafone Group Plc could have the capacity to spend $30 billion to $40 billion on acquisitions in coming years and no deal should be too big if it makes strategic sense, Chief Executive Vittorio Colao said on Monday.

Colao told reporters he was exploring possibilities for big acquisitions on top of investments in Vodafone’s existing business after a $130 billion windfall it will get from an asset sale to Verizon Communications later this month.

Feb 10, 2014

Vodafone may have $30 bln-$40 bln acquisition capacity -CEO

NEW YORK, Feb 10 (Reuters) – Vodafone Group Plc
could have the capacity to spend $30 billion to $40 billion on
acquisitions in coming years and no deal should be too big if it
makes strategic sense, Chief Executive Vittorio Colao said on
Monday.

Colao told reporters he was exploring possibilities for big
acquisitions on top of investments in Vodafone’s existing
business after a $130 billion windfall it will get from an asset
sale to Verizon Communications later this month.

Feb 9, 2014

Chastened HTC turns to cheaper smartphones in search for profit

TAIPEI/NEW YORK, Feb 10 (Reuters) – Smarting from growing
losses, Taiwanese phone maker HTC Corp says it will
expand its range of cheaper products as it fixes off-target
marketing for its premium smartphones.

The company that has long prided itself as a purveyor of
upscale, feature-loaded products says it needs to sell more
mid-tier and affordable smartphones after losing out in 2013.
Muscled off-track by fast-growing Chinese rivals like Xiaomi Inc
as well as giants like Samsung Electronics Co and
Apple Inc, HTC is seeking to reverse a two-year sales
slump matched by an 80 percent drop in its share price.

Feb 6, 2014

Sprint, T-Mobile shares fall on dwindling hopes for merger

NEW YORK (Reuters) – Shares in Sprint Corp (S.N: Quote, Profile, Research, Stock Buzz) and T-Mobile US (TMUS.N: Quote, Profile, Research, Stock Buzz) fell sharply on Thursday as investor hopes for a merger of the No. 3 and No. 4 U.S. mobile service providers faded on concerns about regulatory opposition.

Both companies’ shares were boosted in late 2013 by reports that SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz), the owner of 80 percent of Sprint, was considering buying T-Mobile from its majority owner, Deutsche Telekom (DTEGn.DE: Quote, Profile, Research, Stock Buzz), to merge both companies.

Feb 4, 2014

Elliott readies own director slate as Juniper finalizes turnaround plan -sources

NEW YORK, Feb 3 (Reuters) – Hedge fund Elliott Management
Corp, which owns a 6.2 percent stake in Juniper Networks Inc
, has prepared a slate of directors in the event that
the network equipment maker’s pending turnaround plan does not
achieve goals laid out by the activist investor, people close to
the matter said.

Elliott, which in January urged Juniper to return cash to
investors, consider cutting costs and conduct a strategic review
of its product portfolio, said in a statement on Monday that it
has recruited a team of leading executives who have the
“operational skills” and “deep industry experience” to make its
plan a reality.

Feb 4, 2014

FCC chief tells Sprint chair he is skeptical on T-Mobile deal

By Alina Selyukh and Sinead Carew

(Reuters) – Federal Communications Commission Chairman Tom Wheeler expressed his skepticism about a potential merger between Sprint Corp (S.N: Quote, Profile, Research, Stock Buzz) and T-Mobile US Inc (TMUS.N: Quote, Profile, Research, Stock Buzz) in a meeting with Sprint Chairman Masayoshi Son on Monday, according to an FCC official briefed on the matter.

Son, chief executive at Tokyo-based SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz), which acquired Sprint last year, met with the top U.S. telecommunications regulator alongside Sprint Chief Executive Dan Hesse.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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