Articles about Wall Street

china

Microsoft, IBM, Intel refuse to hand over family jewels to China

Microsoft, IBM and Intel have given Chinese officials short shrift after the government demanded to see their top-secret source code and blueprints. Last month, the Middle Kingdom passed a tough cybersecurity law that will, among other things, require any technology company doing business in the Asian superpower to submit …
Iain Thomson, 02 Dec 2016
shutterstock_gold

Post-IPO Pure doing all right, says NVMe is the new flash

Pure Storage all-flash arrays continue to rise, with revenues up 50 per cent year-on-year in Pure's third fiscal 2017 quarter. Pure beat Wall Street estimates, and says it has achieved a near $800m run rate. It must be hoping for similar growth in its current quarter and, by its own reckoning, it could be a billion dollar a …
Chris Mellor, 01 Dec 2016

Salesforce claims it's on track to become a $10bn company next fiscal year

Salesforce, the once self-styled antithesis of a software company, reckons it's on track to become a $10bn software company in its next fiscal year. Chief executive Marc Benioff made the claim as he announced third-quarter revenue growth of 25 per cent to $2.14bn for the three months to 31 October. Deferred deals grew by 23 …
Gavin Clarke, 18 Nov 2016
Snake oil salesman

Google and Facebook pledge to stop their ads reaching fake news websites

Google and Facebook have both announced they'll try to stop their ads making it onto fake news sites. Fake news has become a post-US-election flashpoint, with numerous commentators opining that deliberately lurid election-related stories created solely to attract eyeballs and ads* may have unwittingly been given vote-swaying …
Simon Sharwood, 15 Nov 2016

Kotkin: Why Trump won

Interview Why did Donald Trump win? He filled a vacuum that was vacated by both Democratic and Republican parties, says Joel Kotkin. Kotkin is one of a small handful of writers who highlighted the role of Silicon Valley's oligarchs in American society. No fan of The Donald ("a horror" is how he described him back in June when we talked …
Andrew Orlowski, 10 Nov 2016

Silicon Valley's oligarchs got a punch in the head – and that's actually good thing

Comment Looking for silver linings from the Election of President Donald J Trump? There may not be many – but I might just have found one. A Republican trifecta (controlling the White House and both Houses) would be the big news today as it signals a "change election", and it hasn't happened since 1928. But Trump is Trump, so that isn …
Andrew Orlowski, 09 Nov 2016
Woman uses headphones with her iPhone. Photo by Shutterstock

iPhone fatigue and fading Samsung. This planet is bored with big brand phones

Samsung already had plenty to worry about before its flagship phone started exploding. Strategy Analytics reckons the Korean giant’s phone sales have fallen 10 per cent. And it’s not alone. Apple is experiencing “iPhone” fatigue after years of merely incremental upgrades, down 5 per cent globally over the year. Overall global …
Andrew Orlowski, 27 Oct 2016

AT&T wants Time Warner

AT&T is reportedly working on a deal to acquire media giant Time Warner. The Wall Street Journal reports that the two sides are in "advanced talks" on a tie-up that would give AT&T control of a media empire that would include the Warner Bros studio, CNN and HBO. Though the report does not list any possible terms, any possible …
Shaun Nichols, 21 Oct 2016
Satya Nadella

Microsoft kinda did OK this quarter – but whatever, Wall Street loves Satya Nadella

Microsoft's first-quarter results for its 2017 fiscal year reveal a four per cent year-on-year fall in profit and 10 per cent dive in operating income. Just before the quarterly results were announced, Microsoft's stock was down about half a per cent to $57.25 a share. Then when the figures landed, and despite the fall in …
Iain Thomson, 21 Oct 2016
Home Secretary Theresa May introduces draft Investigatory Powers Bill to MPs. Pic credit: Parliament TV

May blocked plans to bring in more Indian IT workers – Vince Cable

Former UK Business Secretary Vince Cable has said Theresa May blocked plans to bring in Indian immigrants in the area of IT, claiming the former Home Secretary was "obsessed with immigration". The comments come as Prime Minister May is set to visit India in November to lay the groundwork for a possible trade partnership after …
Kat Hall, 18 Oct 2016

Google has unleashed Factivism to smite the untruthy

Analysis I remember when I first noticed “factivism”. It was more than 10 years ago. In 2003, Californian internet evangelists were still bruised by the dot.com implosion when the United States invaded Iraq on a bogus pretext, WMDs. The web evangelicals thought: wait a minute. The Internet (PBUI) is a Good Thing. The Internet delivers …
Andrew Orlowski, 17 Oct 2016

DIY storage startup: Tech, check. Techies, check... Er, credibility?

Part Four You need customers, but credibility too. One begets the other. But which comes first? We are now in the final, challenging chapter of early start up mode: of getting paying customers and leveraging them to your advantage in the world to gain more. As Tech 3.0 launches the dance for the B round starts. Everything here depends …
Trevor Pott, 17 Oct 2016

Cisco president: One 'hiccup' and 'boom' – AWS is 'gone'

Cisco is the latest member of the technology old guard to take a pop at Amazon Web Services, claiming that the public cloud giant’s financials mean “one hiccup” and it could go bust. AWS-bashing is almost becoming an annual feature at Canalys Channels Forum; in 2014 the analyst estimated AWS was losing billions of dollars; and …
Paul Kunert, 14 Oct 2016

Hypernormalisation: Adam Curtis on chatbots, AI and Colonel Gaddafi

Interview Hypernormalisation, the new film by English documentary-maker Adam Curtis, dives deeper into technology than any of his previous films for the BBC. It goes up on the Beeb's iPlayer on Sunday (at 9pm in the UK) and “it’s a bit of a monster”, he admits. The film is pushing three hours long. I had to watch it over two nights – a …
Andrew Orlowski, 13 Oct 2016
License plates

FYI: Amazon's corner stores scan your plates

Amazon is reportedly looking to launch a series of small convenience stores that will offer onsite pickups of merchandise ordered online, and will scan the license plates of approaching drivers. A report from The Wall Street Journal cites sources familiar in claiming that the online retail giant is not only planning to expand …
Shaun Nichols, 12 Oct 2016

Twitter yanks data feeding tube out of police surveillance biz

Updated Twitter has suspended its commercial relationship with a company called Geofeedia – which provides social media data to law enforcement agencies so that they can identify potential miscreants. The social media company announced the change through its Policy account on Tuesday morning following the publication of a report by …
Thomas Claburn, 11 Oct 2016

Google hires comedians

Google hired comedians to make its "Assistant" virtual AI service more engaging, according to The Wall Street Journal. The Journal's report says Google has hired folks with experience working for satirical news service The Onion and at animated film production house Pixar. The comedians have apparently been brought aboard to …
Simon Sharwood, 11 Oct 2016
Snow White waves goodbye. Photo copyright Disney

Disney aims for Netflix. If the deal was made, it would shoot itself in the foot

Analysis People that invest in Netflix and people that invest in Disney should never meet each other – they would not get on. But it seems there is a danger, according to the Wall Street Journal, that the two shall be thrown together in an unholy Alliance. While we can totally see the logic of such a deal, and how theoretically it …
Faultline, 10 Oct 2016

CEO of shady ad site Backpage and owners arrested on human trafficking suspicions

Special report The CEO of the notorious online classified site Backpage, Carl Ferrer, has been arrested in Texas on allegations of sex trafficking, after a joint investigation by California and Texas. Earlier this year the US Senate, investigating human trafficking, voted to hold Ferrer in contempt after he refused to co-operate. It was the …
Andrew Orlowski, 07 Oct 2016

Verizon! 'wants! a! discount!'

Verizon is reportedly looking to knock as much as $1bn off the price it will pay for NSA mail-sorter Yahoo! A report from the New York Post cites unnamed sources in reporting that Verizon is seeking a reduction in the agreed acquisition price in the wake of the two latest scandals to hit the beleaguered Purple Palace. An …
Shaun Nichols, 06 Oct 2016
Lady eating a sandwich checking her mobile phone

Theranos axes 40% of staff

Panic-stricken blood testing company Theranos is shutting down its two testing labs, with the loss of 40 per cent of its staff. The decision was made by CEO Elizabeth Holmes, who holds a controlling stake in the company, after she was faced with a ban on running testing facilities over a long list of failings at the company's …
Kieren McCarthy, 06 Oct 2016
Twitter for Mac New

Twitter to take buyer bids

Revenue-averse Microblogging site Twitter is opening up its doors to a potential acquisition. A report from the Wall Street Journal cites sources familiar in reporting that this week, Twitter is entertaining bids from potential buyers. Among the possible suitors named was Marc Benioff. The Salesforce.com founder is said to be …
Shaun Nichols, 05 Oct 2016

Ladies in tech, have you considered not letting us know you're female?

Stop press It's one of the most pervasive problems in tech: ingrained sexism that sees women looked over for promotion or often not given a job in the first place. Fortunately, someone has arrived at the perfect solution and this time it's someone worth listening to: an old rich white guy. John Greathouse is a California-based venture …
Kieren McCarthy, 29 Sep 2016
Locker room jocks photo via Shutterstock

Oracle's Coach Larry needs Microsoft plays to beat Amazon

Analysis SAP. Crack! IBM. Snap! Salesforce. Bang! Workday, I can see you - come over here... In the locker room that is Oracle’s quarterly conference calls with Wall Street, somebody’s ass is always on the receiving end of a sharp thwack from the towel of head coach Larry Ellison. Ellison has zinged his verbal towel off many a noble …
Gavin Clarke, 29 Sep 2016
iPhone 7 Plus

Analyst: iPhone 7 points to price jump

Apple may have dampened down expectations when it released the last set of quarterly financial figures, and predicted revenues down again year-on-year for the current quarter, but at least one analyst disagrees. Ton Sacconaghi, Wall Street analyst at Bernstein, predicts Apple shares moving up to $125 based on his calculations …
John Oates, 28 Sep 2016
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Violin hunts for elusive key to regrowth

Analysis The elusive hunt for renewal and regrowth at Violin Memory has moved into a new phase – with a product launch holding up sales, sales leadership change, and the CEO focusing on finding funding for the future. Violin has cleverly managed to avoid falling off a cliff despite falling sales revenues and investor despair. It …
Chris Mellor, 26 Sep 2016

Naughty Zuck: Facebook fudged its video ad numbers

Facebook has been caught miscalculating viewing numbers for those watching ads on the site. The company admitted it had wrongly measured average viewing times for video ads by removing views of less than three seconds from its calculations, which helped to bump up the stats. The mistake overstates median viewing times for …
John Oates, 23 Sep 2016

Hewlett Packard Enterprise bigwig chuckles at talk of buyout talks

The number two at Hewlett Packard Enterprise has brushed off talk the slimmed-down organisation could be vulnerable to a takeover, as the company is again linked with “possible” buyers - this time around Huawei, Lenovo, Oracle, Cisco and, er, Dell. Antonio Neri, executive veep and general manager for the Enterprise Group, told …
Paul Kunert, 21 Sep 2016
An angry mob

Galaxy Note 7 short stack

Looking to replace your pyrotechnics prone Samsung Galaxy Note 7? You might want to hurry before they run out. A report from The Wall Street Journal finds that despite selling roughly one million Note 7s in the US, Samsung has just 500,000 replacement units on hand. For those that claim their replacements in time, the new …
Shaun Nichols, 21 Sep 2016

It actually will be Obama who decides whether to end US government oversight of the internet

The decision whether to end US government oversight of the internet will likely come down to a personal decision by President Obama on Thursday. In an extraordinary series of arguments and counter-arguments this past week, a last-minute push by Republicans looks likely to succeed in placing a funding freeze on the Department …
Kieren McCarthy, 13 Sep 2016
Zod

Kneel before Zod! OpenText claims mighty Documentum from Dell

Dell has finally sold Documentum, one of the oldest and best-known names in storing and retrieving corporate information. Documentum is going to the relatively small OpenText for $1.62bn, as part of Dell’s Enterprise Content Management (ECM) division. That price compares to $1.7bn EMC paid for Documentum in 2003. Dell …
Gavin Clarke, 12 Sep 2016
lottery

Spinning that Brexit wheel: Regulation lotto for tech startups

The reality of running a new business or doing something innovative is that you're hunting for cracks and niches that others have not yet filled – spaces too small for the big girls and boys already in the market. And many of those niches are fragile, formed in part by chance, opportunistic spaces in the current markets and …

Cooky crumbles: Apple mulls yanking profits out of Europe and into US

Apple CEO Tim Cook may pull billions of dollars in profit out of Europe and bring them home to the US, less than a month after he vowed he wouldn't. In the aftermath of the massive €13 billion ($14.5 billion) back tax claim that the European Commission landed on the electronics giant and the Irish tax authorities, Cook has …
Kieren McCarthy, 01 Sep 2016

Hey, uh ICANN. US govt here. You know we said we'd give you the keys to the 'net? Yeaahhh...

The US government has admitted its plan to move control of the internet's naming and numbering functions to a California non-profit next month may not move forward. In a letter [PDF] from the Department of Commerce (DoC) to ICANN sent August 31, the department's CFO gives the organization 30 days' notice that it may extend its …
Kieren McCarthy, 01 Sep 2016

Now the Olympics is over, Theranos is withdrawing its Zika test application

Now that the Olympics is over, there's no apparent athlete-borne Zika pandemic, and the virus doesn't guarantee a headline, Theranos has withdrawn its emergency application to have the Food and Drug Administration approve its blood test for the virus. The emergency approval would have let the company pitch its wares as a Zika …
Workers car pooling

Waze to go, Google: New dial-a-ride Uber, Lyft rival 'won't vet drivers'... What could go wrong?

Google is apparently planning to launch a ride-sharing service to compete with Uber and Lyft. The Wall Street Journal cites a single source in reporting that the Mountain View advertisement broker will expand a small pilot program launched this summer in which the Waze navigational app can be used by people to organize car …
Shaun Nichols, 31 Aug 2016

Our pacemakers are totally secure, says short-sold St Jude

The manufacturer of pacemakers and defibrillators has slammed a report by security researchers, arguing it puts patients' lives at risk. On Thursday security startup MedSec claimed that St Jude Medical pacemakers and defibrillators were easily hackable and that hackers could either run down the batteries in patent's implanted …
Iain Thomson, 29 Aug 2016

Tech Data swings and misses Wall Street moneymen's target

Tech Data's latest quarterly financials show a distributor wrestling with “weaker than expected” IT spending and trying to dip into “pockets of demand” across Europe and the Americas. The world’s second largest tech wholesaler filed turnover of $6.4bn for Q2 of fiscal year 2017 ended 31 July. This was down three per cent as …
Paul Kunert, 25 Aug 2016
Man in tie smashes printer with baseball bat in a field.

Error: Print job 'Money' failed for laserjet001.lan.hp.com

HP Inc says it will move forward with its plans to cut costs and refocus its business as it posted better than expected quarterly numbers. For the three months to July 31, Q3 of its 2016 fiscal year, the printers and PCs half of the HP split reported: Revenues of $11.9bn were down four per cent on the year-ago total of $12. …
Shaun Nichols, 25 Aug 2016
Crystal ball. Pic: Shutterstock

Gartner's Magic Quadrant mages shake crystal ball, Violin goes topsy turvy

Gartner's latest all-flash array Magic Quadrant contains expected news, a few surprises and a demotion that has prompted a public response from Violin Memory. The report, Gartner's 2016 Solid State Arrays Magic Quadrant and Critical Capabilities" report, can be accessed by Gartner subscribers here. The Magic Quadrant (MQ) …
Chris Mellor, 24 Aug 2016

Sharp's new CEO warns of job losses amid 'optimization'

The new CEO of Sharp Electronics has warned that there will be job losses at the consumer electronics company amid a broader restructure. Tai Jeng-wu now heads the company following the takeover by Foxconn for $3.8bn, which saw the giant take a 66 per cent ownership stake. The job losses have long been rumored, and Foxconn …
Kieren McCarthy, 22 Aug 2016

$3bn Renesas bid for Intersil

Japanese chipmaker Renesas is reportedly planning to buy US-based competitor Intersil for $3bn. According to the Wall Street Journal, Renesas is "considering various options for growth" and is looking at a 300bn yen price for the company. Intersil's share price rocketed 19 per cent on the news, now valuing it as $2.5bn on …
Kieren McCarthy, 22 Aug 2016

Cisco raises axe above 14,000 staff – reports

Updated Cisco is rumoured to be laying off up to 14,000 staff - nearly 20 per cent of its global workforce - part of a shift toward becoming a software-focused biz. Multiple sources have told US site CRN, the cuts will hit between 9,000- 14,000 of the company's global 73,104 employees. The biz has 7,000 employees in the UK. "They …
Kat Hall, 17 Aug 2016
Old school emissions testing at the EU's Joint Research Centre

DoJ preps criminal charges for VW over Dieselgate

The US Department of Justice (DoJ) is reportedly preparing to file criminal charges in the Volkswagon emissions testing scandal. Citing sources familiar, The Wall Street Journal reports that the DoJ has found evidence of criminal wrongdoing on the part of the German automaker and is in talks with VW lawyers to propose a deal …
Shaun Nichols, 16 Aug 2016
Tim Cook, photo2 by JStone via Shutterstock

Tim Cook's answer to crashing iPhone sales: More iPhones

Apple’s plan to tackle the great iPhone sales slump is for it to produce, yes, more iPhones. CEO Tim Cook, in a scripted Q&A with the Washington Post, dismissed the six-month drop-off in sales of iPhones – and slowing smartphone sales in general. Apple is now expected to release the iPhone 7 in September. Cook reckons …
Gavin Clarke, 15 Aug 2016

Avnet's interim CEO is here to kick sales team ass and play golf. And he's all out of golf balls

Avnet's new acting CEO has started the clock ticking on a corporate turnaround – after he talked up ideas to overhaul a business that has disappointed Wall Street's moneymen. Former Lenovo boss Bill Amelio – who’s been on Avnet’s board for the past two years – was made interim chief in July, and last night fronted his maiden …
Paul Kunert, 11 Aug 2016
sale

Imperva under pressure to find buyer after disappointing results

An activist investor is reportedly pushing data centre security firm Imperva to find a buyer following disappointing financial results. Cisco Systems, IBM, Raytheon or Symantec are touted as potential suitors of the Israeli entrepreneur-founded firm, which markets Web Application Firewalls and DDoS mitigation services. …
John Leyden, 11 Aug 2016
Tape over mouth, image via Shutterstock

Rackspace CEO: Yes, Brexit has hit us, yes we sold our Cloud Sites biz

Rackspace execs confirmed the sale of its Cloud Sites hosting sub to Liquid Web but ignored the white elephant in the room that Apollo Global is reportedly in talks to slurp the entire organisation. The private equity house might well end up taking Rackspace private again in a deal valued at up to $4bn, buying the company time …
Paul Kunert, 09 Aug 2016
Google's Sundar Pichai, speaking at Google I/O 2015

Google, er, Alphabet takes on 10,000 more staff, banks more and more billions from ads

Alphabet, the holding company for Google and the Chocolate Factory's other concerns, has reported strong growth in the second quarter ending June 30, with revenues up 21 per cent from this time last year. Google made up the vast majority of this revenue, accounting for $21.3bn for the quarter, with the other parts of Alphabet …
Iain Thomson, 28 Jul 2016
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Services income helps Juniper keep Q2 from collapse

The tough networking market continues to make growth difficult for the big names: Juniper Networks has reported flat year-on-year Q2 2016 revenue and has warned of a flat outlook. Second quarter 2016 revenue was US$1.221 billion, and its operating margin fell year-on-year from 19.9 per cent in Q2 2015 to 16.7 per cent for the …