Monday - January 5, 2009
The year-long U.S. recession has started to take its toll on the telecomm sector. AT&T and Verizon shares were hit hard Monday after being downgraded by Bernstein Research. The firm downgraded Verizon from market perform to underperform and AT&T from outperform to market perform. Verizon stock was down 7.16 percent to $32.15 per share and AT&T stock was down 4.35 percent to $28.15 in late-day trading on Monday. Verizon and AT&T shares were down 27 percent and 32.6 percent, respectively, from their 52-week highs.
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Monday - January 5, 2009
After several months of macabre speculation in the tech industry and on Wall Street, Apple CEO Steve Jobs has set the record straight. Yes, the cancer survivor has been losing weight. The reason is a hormone imbalance for which he is now receiving treatment. Jobs made the announcement via a letter that was posted to the Apple Web site.
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Friday - January 2, 2009
The global financial marketplace has recently become quite volatile, as fears of an American recession affect economies all over the world. Such fears can be especially dangerous for businesses. In times like these, many top managers panic and make unwise decisions such as firing quality employees and slashing important programs.
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Wednesday - December 31, 2008
Dell, the No. 2 PC maker in the U.S., has fired two top executives as part of a major restructuring designed to help close the gap with its largest competitor, HP. Chief Marketing Officer Mark Jarvis has stepped down; President of Global Operations Mike Cannon will retire, effective Jan. 31. Cannon will be replaced by Jeff Clarke, currently head of Dell's business client product group.
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Tuesday - December 30, 2008
Advanced Micro Devices said Monday that it cut 600 jobs in the third quarter -- 100 more than it indicated in the guidance provided to Wall Street early last fall, according to a filing with the Securities and Exchange Commission. The 100 extra job cuts resulted in $70 million in restructuring costs, rather than the $50 million the struggling chip company said it would take when the cuts were first announced.
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Tuesday - December 30, 2008
Taiwan's economics ministry said on Tuesday it asked DRAM chipmaker Powerchip to resubmit plans for a company turnaround as the government tries to engineer a rescue for the struggling sector. Powerchip, along with other major DRAM makers in Taiwan, recently submitted plans for turning around its operations, after posting massive losses in recent quarters amid the sector's worst ever downturn.
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Monday - December 29, 2008
Microsoft first talked about pay-as-you-go computing years ago, but a recent patent publication suggests the software giant is moving ahead with an alternative strategy for expanding PC access around the world. The application, filed on Dec. 25 with the U.S. Patent & Trademark Office, provides a glimpse of what could be Microsoft's vision of the future of computing.
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Monday - December 29, 2008
A small networking company is suing three tech titans for patent infringement. Cygnus Systems has filed suit in the U.S. District Court in Arizona, alleging that Microsoft, Google and Apple have all violated a patent Cygnus received in March 2008 on the use of document preview icon, or so-called thumbnail, technology.
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Monday - December 29, 2008
People don't like to change; particularly as we get older, we take comfort in the status quo and start avoiding things that are new and different. As we get older we gain more power and this generally places the most conservative people in positions of authority. Let's look at four companies this week and how they are likely to change in 2009/2010.
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Friday - December 26, 2008
Who can replace Steve Jobs? When Apple needed a substitute after its iconic CEO backed out of delivering his annual keynote at the upcoming Macworld conference, it tapped Phil Schiller, its senior vice president of worldwide marketing. The announcement last week that Schiller will fill in for Jobs at next month's event begs a larger question: Who might step into Jobs' shoes when he eventually departs Apple?
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