By Sinead Carew
(Reuters) – Intel Corp said on Thursday its board had elected Chief Operating Officer Brian Krzanich as the chipmaker’s next chief executive, disappointing investors who were looking for more aggressive change.
Intel shares fell 1.3 percent in early trade but later traded flat. The world’s biggest chipmaker had said last November that it might go external for the next CEO, raising hopes that it might find someone to shake it out of recent doldrums.
NEW YORK (Reuters) – T-Mobile US Inc (TMUS.N: Quote, Profile, Research, Stock Buzz) shares rose 5.1 percent in their debut on the New York Stock Exchange on Wednesday, after the company was created by the merger of MetroPCS Communications and Deutsche Telekom AG’s (DTEGn.DE: Quote, Profile, Research, Stock Buzz) U.S. unit T-Mobile USA.
Shares of what is now the fourth-largest U.S. wireless service provider were up 81 cents at $16.39 from an adjusted closing price of $15.58.
TOKYO/NEW YORK (Reuters) – SoftBank Corp President Masayoshi Son came out swinging on Tuesday against Dish Network Corp’s rival bid for Sprint Nextel Corp, saying the satellite TV company would cripple Sprint with debt and was ill-prepared to run a wireless service.
Billionaire Son said there would be no need for SoftBank to sweeten its bid and he dismissed Dish’s $25.5 billion offer as “incomplete and illusory.” He argued his $20.1 billion offer would ultimately be better value for Sprint shareholders.
NEW YORK, April 24 (Reuters) – U.S. mobile phone companies
are starting to realize they need more than phones to keep
Shares of AT&T Inc fell 5 percent on Wednesday after
the No. 2 U.S. mobile operator disappointed investors with its
report of a net loss of 69,000 phone subscribers in the first
quarter. It depended on tablet users instead for growth.
NEW YORK (Reuters) – AT&T Inc reported a net loss of cellphone subscribers in the first quarter as it lost market share to bigger rival Verizon Wireless, sending its shares down about 2 percent.
As a result AT&T’s revenue missed Wall Street expectations as its subscriber growth was driven by tablet computer users who pay lower monthly fees than phone users.
April 22 (Reuters) – Texas Instruments Inc posted
first-quarter results slightly ahead of Wall Street expectations
and it forecast growth for the current quarter on improving
demand for its chips.
Following weak demand last year due to concerns about the
global economy, orders for Texas Instruments’ chips have picked
up, although manufacturing customers remain cautious, Chief
Financial Officer Kevin March told Reuters in a telephone
By Sinead Carew
(Reuters) – Verizon Communications Inc posted a higher-than-expected quarterly profit on the performance of its wireless business, which reined in costs without slowing growth.
Verizon also ramped up the pressure on Vodafone Group Plc, which owns 45 percent of the Verizon Wireless unit. Verizon has been seeking to buy that stake and take full control of the top U.S. mobile company.
By Sinead Carew
(Reuters) – Verizon Communications Inc posted a higher-than-expected quarterly profit on strength in its wireless operations, and it ramped up pressure on Vodafone Group Plc to sell Verizon its stake in that business.
Verizon Wireless was helped by lower wireless costs and stronger smartphone sales in the quarter, including 4 million activations of Apple Inc iPhones, which compared to iPhone sales of 3.2 million a year ago. Apple shares have been sliding amid fears of weakening demand for the iPhone.
NEW YORK (Reuters) – Omega Advisors, one of the biggest shareholders in Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz), on Wednesday joined a growing group of investors who say they favor Dish Network Corp’s (DISH.O: Quote, Profile, Research, Stock Buzz) $25.5 billion bid for the company over SoftBank Corp’s (9984.T: Quote, Profile, Research, Stock Buzz) offer.
Dish Chairman Charlie Ergen on Monday announced a challenge to SoftBank’s $20.1 billion offer to buy 70 percent of No. 3 U.S. mobile provider Sprint, prompting support from shareholders including activist Paulson & Co. on Tuesday.
(Reuters) – Dish Network Corp, the No. 2 U.S. satellite television provider, on Monday offered to buy wireless service provider Sprint Nextel Corp for $25.5 billion in cash and stock, a move that could inspire other telecommunications or video companies to consider their own prospects of combining.
Dish’s offer could trump a proposal in October by Japanese wireless operator SoftBank Corp to buy 70 percent of Sprint for $20.1 billion.