Articles about Wall Street

HP CEO Meg Whitman

Whitman deletes another chapter in HP history as CSC and ES borg

Hewlett Packard Enterprise CEO Meg Whitman is dismantling another legacy bequeathed to her by a predecessor as she waves goodbye to Enterprise Services. The first lady of Palo Alto has already closed the chapter opened by one-time CEO Carly Fiorina who had signed off the buy of Compaq, only for HP's PC business to be ejected …
Paul Kunert, 26 May 2016
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Hardware sizzles for HPE – and brings home the bacon

Software and IT services might make the world go round – at least in the heads of Wall Street moneymen – but it was hardware that once again brought home the bacon for Hewlett Packard Enterprise. For the three months ended 30 April (second quarter fiscal year 2016 – summary, tables [PDFs]), HPE's turnover edged up one per cent …
Paul Kunert, 25 May 2016
Yahoo! branded bus

Sky! Blue!, Oceans! Wet!, Yahoo! Overvalued!

Yahoo!'s planned sell-off of its core business may not end up bringing the cash return investors had hoped for. Citing sources familiar with the matter, The Wall Street Journal reports that Jerry and David's Guide to the World Wide Web is receiving bids of around $2-3bn on its core business, significantly less than the $4-8bn …
Shaun Nichols, 20 May 2016
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Symphony enters messaging app market

Entering an already crowded market, Symphony has announced it will produce an iOS app for its cloud-based messaging service. The Google-backed company's service is used largely by financial institutions due to its high-level security, but is currently only available through a browser. The iPhone app will be released next week …
Kieren McCarthy, 20 May 2016

Theranos bins two years of test results

The controversial blood-testing company Theranos has voided two years of results and issued tens of thousands of corrected reports, further undermining its credibility and raising serious questions over its future. The discarded results were run both on traditional testing machines and on Theranos' "revolutionary" Edison …
Kieren McCarthy, 19 May 2016
android logo

Google asks the public to name the forthcoming Android N operating system

Google I/O 2016 Google has been using its developers conference to show off forthcoming improvements in Android N and is taking the unusual move of asking the public to name it. Traditionally Android builds have been named after foodstuffs, like Jellybean or KitKat – the later picked not for marketing dollars but as an attempt to show how " …
Iain Thomson, 18 May 2016
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China's new rules may break the internet warns US government

The Chinese government could fragment the internet if it pursues new registration rules for online addresses, the US government has warned. The warning by assistant commerce secretary Larry Strickling and state department ambassador Daniel Sepulveda comes in response to a decision by the Chinese government in March to require …
Kieren McCarthy, 16 May 2016
You're fired dialog box

Theranos boots COO

Troubled blood-testing company Theranos has booted out its president and chief operating officer and added new board members in an effort to rebuild confidence. Sunny Balwani is "retiring" according to a blog post by the company, just a month after it was revealed federal regulators were considering banning Balwani and CEO …
Kieren McCarthy, 12 May 2016

Salesforce parks its planned IoT cloud on... shocker! AWS

In a major break from the past, Salesforce is turning to an outside supplier to run a portion of its cloud. The CRM-as-a-service provider has asked Amazon’s Web Services to deliver the plumbing for its latest planned service – an Internet of Things Cloud. Announced in September 2015 and due by the end of this year, Salesforce …
Gavin Clarke, 11 May 2016
Ashlee Vance, Elon Musk: How the Billionaire CEO of SpaceX and Tesla is shaping our Future

Tesla production executives depart as 'leccy car maker reports narrowing loss

Tesla might have pleased Wall Street with its latest financial results, but the company has also lost a couple of high-profile production executives in the last 24 hours. With around 400,000 reservations booked for the Model 3, the 'leccy car maker needs all the build nous it can find, but Bloomberg reports the departures of …

EU set to bin €500 note

The European Central Bank (ECB) will likely agree today to stop production of the meaty €500 note, which has long been considered a handy tool for criminals wishing to do illicit transactions with cash wedges of manageable dimensions. According to the Wall Street Journal, the ECB's Governing Council will decide not to produce …
Lester Haines, 04 May 2016
Trillian chats to a depressed Marvin the Robot in the 2005 film version of Hitchhiker's Guide to Galaxy. C Walt Disney Pictures

Food for Deep Thought: 42 is IBM's answer to Life, the Universe and Everything...

Analysis Deep Thought calculated the number 42 to be the Answer to the Ultimate Question of Life, the Universe and Everything. Over at IBM it was the frequency the word "transform" was used to explain another dire quarter. The supercomputer in The Hitchhiker's Guide to the Galaxy took 7.5 million years to determine the importance of …
Paul Kunert, 29 Apr 2016
Amazon CEO Jeff Bezos

Amazon's AWS cash machine embiggens, breezes past $2bn-a-quarter mark

Amazon has reported bumper first quarter results, with profits of $513m and sales increasing 28 per cent. In its previous quarterly results Amazon's stock took a beating after the company reported a lower than expected sales. After Thursday's results, the company was back in favor and saw its stock price rise over 10 per cent …
Iain Thomson, 28 Apr 2016
Zuckerberg

Back up the trucks for Zuck's bucks: Facebook revenues up 52 per cent

Facebook says skyrocketing advertising bucks are behind a huge jump in revenues and income this year. For the first quarter of its fiscal 2016 year, the House of Zuck reported: Revenues of $5.4bn were up 52 per cent from last year's $3.5bn. Net income of $1.5bn was a 195 per cent increase from a reported $512m in last year' …
Shaun Nichols, 27 Apr 2016

Vid: Snowden flick trailer

The trailer for Snowden – Oliver Stone's movie about NSA whistleblower Edward Snowden – has been put on YouTube for everyone to take a look. And it looks ridiculous. The action flick seems to be aimed at people with an attention span short enough to find a Fast and Furious episode a marathon, and nowhere near long enough to …
Chris Williams, 27 Apr 2016
Stock market image via Shutterstock

Riverbed gears up for its second IPO

Exclusive Almost exactly a year since networking biz Riverbed exited from the stock market following pressure from activist investor Elliot, the company is once again gearing up for an IPO. The move to go private was prompted by Elliot, which had complained that the $1bn revenue company was not performing. Private equiteer Thoma Bravo …
Kat Hall, 26 Apr 2016
Apple iPod touch

Brace for Apple crash

Apple will report a rare drop in revenues for its first quarter of 2016, it is feared. Wall Street analysts suggest the Cupertino maker of iStuff will tell investors tomorrow that both sales and profits will be lower than figures from the year-ago period. If such a drop does come to pass, it will be the first time since 2003 …
Shaun Nichols, 25 Apr 2016
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When is making $20bn in three months not enough? When your name is Google

Google parent company Alphabet is feeling the heat after it failed to reach earnings targets this past quarter. The Chocolate Factory took a beating on Wall Street after it reported non-GAAP earnings of $7.50 per share in its 2016 Q1 period, which ended in March. Analysts had expected earnings of at least 7.96 per share. Here' …
Shaun Nichols, 21 Apr 2016
management intelligence

Bio biz Theranos probed

Troubled blood-testing company Theranos has confirmed it is being investigated by the US Securities and Exchange Commission (SEC) and the US Attorney's Office over claims it misled investors and government officials. In a letter to its partners, the company said it felt obliged to provide information on ongoing investigations …
Kieren McCarthy, 19 Apr 2016
stack of newspapers view from the side

Yahoo! sale woes

The possible break-up and sale of Yahoo! is not going smoothly, according to numerous media reports. CEO Marissa Mayer is reportedly refusing to answer key questions about the financial performance of Tumblr, which she acquired for Yahoo! in 2013 for $1bn, and is persistently failing to meet with potential bidders. Other …
Kieren McCarthy, 15 Apr 2016
Daisywheel with Courier font

Theranos faces ban

Troubled blood-testing startup Theranos may lose one of its testing facilities and a functional management team following a damning report by federal health regulators. The Centers for Medicare and Medicaid Services has said it will revoke the company's license for its California lab and prevent its owners – Theranos CEO …
Kieren McCarthy, 14 Apr 2016
Marissa Meyer

Daily! Mail! eyes! up! Yahoo!'s news! arm!

The Daily Mail Group Trust (DMGT) has confirmed it is discussing a bid for Yahoo, one of a number of suitors to be eyeing up the troubled biz. In a statement the DMGT said: "Discussions are at a very early stage and that there is no certainty that any transaction will take place. We have no further comment at this time. …
Kat Hall, 11 Apr 2016
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Gartner: Why we had to dash tech cash splash

Tech spending stats look quite respectable for 2016, but only in certain product areas or geographies and only in a constant currency basis. Performing a classic flip-flop, Gartner today downgraded earlier forecasts by a whole percentage point, and told us it now expects customers to collectively find $3.49 trillion for new …
Paul Kunert, 07 Apr 2016

EU pushes probe up Google's ad alley

The European Union (EU) is pushing forward with its probe into Google/Alphabet's dominance of the online ad market, with the commissioner in charge suggesting formal charges are on the way. Margrethe Vestager spoke to The Wall Street Journal the day before getting on a plane to visit the US, and said her team was "advancing" …
Kieren McCarthy, 05 Apr 2016

Just how close are Obama and Google? You won’t believe the answer

An ethics watchdog thinks that the FTC may have misled Congress about how it protected Google, and highlights how the White House went into panic mode to limit the damage to the giant ad slinger over a newspaper report last year. Last March, Google learned that the Wall Street Journal was about to publish details of how the …
Andrew Orlowski, 04 Apr 2016
China

Sanctions-slapped Chinese telecoms vendor ZTE swaps execs

Chinese telecoms vendor ZTE is overhauling its management board just one month after the biz was slapped with sanctions by the US government over accusations it had violated trade rules in Iran. The company today confirmed it will meet this week to install a new team, following revelations in the Wall Street Journal over the …
Kat Hall, 04 Apr 2016
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Holding out for a Jobs: Tim Cook still auditioning for position of Apple god

Apple at 40 Apple is 40 years old. The leader was Steve Jobs, but he's gone and many still don't understand his core idea. The idea was Apple's control over "the user experience". That control is at risk today, and the company's future hangs in the balance as a result under the new leader. How people use things was Jobs' lifelong …
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Cloudera's valuation slashed by Fidelity amid IPO fail fears

Cloudera's estimated valuation was slashed 38 per cent by major capital player Fidelity Investments, reports have said, as Wall Street grows very cool on unicorn public offerings. Fidelity aired its concerns about a potential "startup bubble" by marking down its assessment of privately held Cloudera, monthly holding reports …

Yahoo! Starts! Sale! Process! To! Fend! Off! Starboard!

Yahoo! has been accused of getting serious about the contentious slow-motion train wreck that is its sale process. The Wall Street Journal reckons the recent threat by activist investor Starboard to sack the board of directors has had its intended effect. The Purple Palace has now set a bid deadline of April 11, for …

Oculus Rift review-gasm round-up: The QT on VR

The much-hyped virtual reality headset Oculus Rift is finally shipping to its first customers this week, and the Facebook-owned company dished out a few of them ahead of time to select publications. The embargo lifted Monday morning and we have waded through tens of thousands of words contained in nine reviews so you don't …
Kieren McCarthy, 29 Mar 2016
Giant Red Hat shadowman logo in field, with message, "Calling all enterprisers"

Enterprise revenues power Red Hat past $2bn barrier

Red Hat is in the enviable position of having become the first open-source firm to break the $2bn revenue barrier. The Linux spinner has reported full-year revenue $2.05bn, an increase of 14 per cent from subscriptions, training and services. Net income was up 10 per cent to $199m. For its fourth quarter Red Hat reported $ …
Gavin Clarke, 23 Mar 2016
Google Cloud logo

Google reveals rapid cloud expansion

Google has decided to play catch-up with Amazon Web Services (AWS), announcing that it's going to add 12 regions to its cloud services by the end of 2017. The rollout will start with a Western US region hosted in Oregon, and an East Asia region to be built in Tokyo. Each of these regions will have multiple availability zones, …

Obama bigs up His Man in Havana: Google

President Obama has promised to bring internet access to Cuba – by pre-announcing a deal best-pal Google has struck with the island. On the first day of an historic trip – the last US president to visit the nearby state of Cuba was Calvin Coolidge in 1928 – Obama flagged up the Wi-Fi and broadband deal, seemingly catching the …
Kieren McCarthy, 21 Mar 2016

FCC boss: Oh look, net neutrality didn't end the world after all. Surprise!

Tom Wheeler, chairman of US broadband watchdog the FCC, has given telcos a firm poke in the eye over their net neutrality doomsday predictions. Speaking on the one-year anniversary of the Open Internet Order at the GnoviCon conference in Washington DC, Wheeler reflected on the fact that the big telcos railed against the rules …
Kieren McCarthy, 21 Mar 2016

Feds raid 'extortionist' IT security biz Tiversa, CEO put on leave

The CEO of a controversial cybersecurity outfit has been put on leave following an FBI raid of its headquarters. Federal agents raided Tiversa's Pittsburgh office earlier this month looking for evidence in a long-running investigation of its business practices. Soon after the raid, CEO Robert Boback was placed on leave and …
Kieren McCarthy, 18 Mar 2016

New-economy poster child LivingSocial slashes staff amid another startup collapse

In a sign that the long-anticipated tech shakeout has begun in earnest, poster child for the new economy LivingSocial has announced it is slashing its workforce in half. At the same time, yet another food-delivery startup, SpoonRocket, has closed its doors and sold itself to competitor Sprig. The result, according to a Wall …
Kieren McCarthy, 16 Mar 2016
Hacker with face obscured, wearing a hoodie,  works in front of a bank of monitors. photo by Shutterstock

Is this Romanian man really 'GhostShell'? If so, he risks arrest

Members of the security community are nonplussed by claims that a Romanian hacker “GhostShell” has seemingly risked arrest by doxxing himself in a bid to get a job in information security. The man claiming to be a one-time Anonymous-affiliated hacktivist avoided identification and arrest for four years before apparently outing …
John Leyden, 15 Mar 2016
Mammatus clouds by Craig Linsday, CC 3.0 licence

AWS's grand plan: It'll slurp your databases, spit them into its cloud

Amazon is to launch its AWS Database Migration Service today, in a bid to slurp big enterprises into the cloud by making it easier to ditch their legacy systems, according to reports. Since the beginning of the year, more than 1,000 databases from “many hundreds” of companies have used an early version of its migration service …
Kat Hall, 15 Mar 2016

Rocky times for startups: Mutual funds devalue and VCs turn off money hose

Silicon Valley startups are facing a tough quarter as funders wait to see if a tech crash is on its way. Tech stocks have taken a battering this year, doing far worse than the overall market, and there have been numerous signs that the ludicrous over-valuations of tech companies – especially the so-called "unicorns" – are …
Kieren McCarthy, 11 Mar 2016
An eraser

IBM to erase 14,000 people from the payroll – Wall St analyst

Up to 14,000 IBMers worldwide could leave under the latest redundancy programme, according to Wall Street moneymen. In a research note from Bernstein that was sent to customers and us, senior research analyst Tony Sacconaghi, said it appears IBM is taking “meaningful workforce rebalancing actions”. He highlighted a $1bn …
Paul Kunert, 10 Mar 2016
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HPE targets Nutanix, squeezes into hyperconvergence suit

Hewlett-Packard Enterprise has Nutanix in its sights, with a hyper-converged server due this month. HPE’s chief executive Meg Whitman has revealed a ProLiant-based virtualisation server is coming, which she claimed would be easier and cheaper to use than Nutanix. HPE is taking on some familiar old names including Cisco, Dell …
Gavin Clarke, 04 Mar 2016
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Like those independent DevOps vendors? They might not be for long...

Enjoy those scrappy IOT and DevOps startups while you can, as many will not be able to resist the siren call of cash rich traditional vendors or the stock market this year, 451 Research has predicted. The analyst firm’s Tech M&A Outlook report has predicted “billions in investment” in a number of hotspot technology areas. This …
Joe Fay, 25 Feb 2016

T-Mobile US triples profit, adds two million customers

T-Mobile US has continued to tap into widespread frustration with competing mobile phone carriers by adding 2.1 million customers in the last quarter of 2015 and tripling its profits. The Q4 results show the company's net income jumped to $297m from $101m one year previously. It also pulled in an additional 2.1 million …
Kieren McCarthy, 17 Feb 2016
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Teradataaaaargghh! How to go from years in the black right into the red

Data warehouser and analyzer Teradata is suffering still. It's made a full-year loss as fourth-quarter 2015 revenues continued a multi-quarter tumble. Sales were $719m, down 6 percent year-on-year, and full year revenues of $2.53bn were down 7 per cent year-on-year. The fourth quarter net income was a profit of $41m, 65.3 per …
Chris Mellor, 04 Feb 2016
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Mall owner lays blame at Apple's door for dragging down sales

One of the US’s major mall operators blamed Apple for dragging down the performance of its high end properties, potentially compounding the discomfort for the i company. Last month Apple reported results that were - for the tech juggernaut - slightly lacklustre, precipitating a share slide that made it the former most valuable …
Joe Fay, 04 Feb 2016

International Trade Commission pens patent love letter to Cisco

The International Trade Commission has handed Cisco another gun to fire at antagonist Arista, finding that the latter violated three Cisco software patents. The patents in question cover router management (US 7,162,537), and private VLANs (US 6,741,592 and 7,200,145). Since Cisco reckons Arista's in violation of twelve …

Alphabetti spaghetti: What Wall Street isn't telling you about Google

Alphabet, Google’s parent company, has made the front page with its latest financials – overtaking Apple as the world’s most valuable public company. But size isn’t everything. The numbers illustrate the nature of Alphabet’s grip over digital trade – with Alphabet really controlling the price of transactions, and what value …
Andrew Orlowski, 02 Feb 2016
Amazon CEO Jeff Bezos

Investors furious that Amazon only made $482m last quarter

Amazon is taking a beating on Wall Street as the retail and cloud giant posted numbers that, although strong, were short of analyst expectations. The house of Bezos saw its stock price fall 13 per cent after the release of its quarterly and full-year financials. However, Amazon noted large gains in key areas, including the AWS …
Shaun Nichols, 28 Jan 2016
Still from Stand By Me movie. Pie eating contest

SanDisk struggles to fatten itself up ahead of WD takeover

A final growth quarter but revenue declines on the annual compare, amid falling annual revenues, end a tough year for SanDisk as it prepares to be acquired by WD. Final 2015 quarter revenues were $1.54bn, 11.5 per cent on the year-ago quarter, although they were 6.2 per cent higher than the third 2015 quarter. This beat Wall …
Chris Mellor, 28 Jan 2016
Sad man stares glumly over boxed contents of desk. Image via shutterstock (Baranq)

Hewlett Packard Enterprise axing services techies again

Hewlett Packard Enterprise is ditching techies at its Lytham site who provide infrastructure services for public sector clients, including the Department for Work & Pensions. According to the Public & Commercial Services (PCS) union, HPE has put 166 employees in the infrastructure technology outsourcing business at risk of …
Paul Kunert, 28 Jan 2016