NEW YORK, Dec 11 (Reuters) – Cisco Systems Inc
Chief Executive John Chambers is facing growing pressure from
investors to exit its television set-top box business, where
revenue has been plummeting and profit margins trail the rest of
The problem is that there are few obvious buyers for the
unit – the former Scientific Atlanta that Cisco bought for $6.9
billion in 2005 – so Chambers might have no choice but to close
the business, analysts said.
NEW YORK/SAN FRANCISCO (Reuters) – Activist investor Carl Icahn will sell all his shares in Take-Two Interactive Software Inc back to the videogame company, netting a fat return on his investment in the “Grand Theft Auto” publisher.
Three directors nominated by the billionaire have resigned as part of the deal, under which Take-Two will pay $203.5 million in cash or cash equivalents for the 12.02 million shares Icahn owns, or about a 13 percent stake.
BOSTON/NEW YORK, Nov 20 (Reuters) – Shareholders of telecom
giants AT&T Inc and Verizon Communications Inc are
seeking more details related to their sharing of customer
information with governments, showing investors starting to push
back over the role of communications companies in spying
Activists including Trillium Asset Management of Boston and
the $161 billion New York State Common Retirement Fund have
filed proposals for the spring shareholder meetings of AT&T and
Verizon, representatives said.
NEW YORK (Reuters) – T-Mobile US is looking to buy wireless airwaves from larger rival Verizon Wireless to bolster its mobile network capacity for data services, a source familiar with the matter said on Tuesday.
While T-Mobile has approached Verizon about buying the spectrum, the process is still in the early stages, according to the source, who asked not to be named. The source was not authorized to discuss the matter.
NEW YORK, Nov 13 (Reuters) – Cisco Systems Inc
warned its revenue would dive as much as 10 percent this
quarter, and keep contracting until after the middle of 2014, as
a backlash against U.S. government spying contributed to
plummeting demand in emerging markets like China.
The hit comes after former U.S. spy agency contractor Edward
Snowden exposed widespread surveillance by the National Security
Agency – in particular through Internet data, much of which is
transmitted via Cisco’s network equipment.