Articles about Wall Street

Satoru Iwata

Satoru Iwata, Nintendo chieftain and gamer titan, dies aged 55

Nintendo president Satoru Iwata has died aged 55. The fourth president of the company, Iwata-san arrived at Nintendo in 2000 after working for HAL Laboratory. He was appointed president in 2002. Bloomberg reports that under his leadership, the company tripled its revenue on the back of the Game Boy Advance SP and the Wii. In …
4 arrows signs in arrow on wooden wall

Apple goes to crapple in stock plunge kerfaffle: $113bn wiped off in days

Peak Apple Apple is in the midst of a stock drop that has caused the Cupertino giant to lose as much as $113bn in market cap. Since posting its last quarterly numbers, Apple (Nasdaq:AAPL) has seen its stock price drop from $125.22 per share to a low point of $112.10. Wary that Apple's meteoric growth from recent years is slowing down as …
Shaun Nichols, 05 Aug 2015

iMaker Hon Hai/Foxconn earnings stall as fanbois hold fire

Hon Hai/Foxconn's revenue slowed dramatically in the second quarter, as its iGadgets manufacturing reliance began to take its toll, with fanbois' showing thrift in anticipation of a new iPhone launch later this year. The Taiwanese manufacturer stated that Q2 net profits had risen 27 per cent from the preceding year, reports …

The Ruskies are coming for you, NSA director tells City bankers

Defence bigwigs have issued a stern warning to financial companies at the London Stock Exchange that "so-called patriotic hacker groups" may soon embiggen their attacks on the City and Wall Street. The talk, organised by the Royal United Services Institute (RUSI) along with the FCA and Bank of England, noted how Western banks …
Double Dragon

Game over for epic 15-year-long console ban, China says

Videogame giants will soon be able to make and sell consoles in China, after Beijing confirmed plans to lift a ban first instituted in 2000. Rules were relaxed in the country in 2014 to allow for the production and sale of "gaming entertainment" in the newly created Shanghai Free Trade Zone. Now, according to the Wall Street …
Kelly Fiveash, 25 Jul 2015
Railway line split. Pic: Ian Sane

Activist investor Jana Partners calls for Qualcomm break-up

Activist investors in chip giant Qualcomm are reportedly calling for a break-up of the semiconductor biz in order to boost its stock price. Jana Partners, which owns a $2bn (£1.4bn) stake in the biz, is calling on Qualcomm to spin off its chip unit from its patent-licensing operation, according to a letter to Jana investors seen …
Kat Hall, 13 Apr 2015

How much did T-Mobile US make from that failed AT&T buyout? How about $7.7bn

A failed 2011 merger with AT&T is paying off in a big way for T-Mobile US. Analysts at New Street Research (via The Wall Street Journal) estimate that a $1bn spectrum package T-Mobile US received in the wake of the ill-fated acquisition has ballooned in value to $4.7bn. The frequencies were part of a $4bn breakup package AT&T …
Shaun Nichols, 31 Mar 2015
channel

Brocade gives Wall Street the finger

The SANs are okay... Brocade beat pessimistic Wall St estimates about its fourth quarter (Q4) earnings and outlook for the next quarter, showing that there is more life in the Fibre Channel and Ethernet vendor than analysts gave it credit for. Revenues in the fourth quarter ending 29 October were $550m, a 9 per cent rise on the …
Chris Mellor, 24 Nov 2011

Fiat Chrysler recall BLUNDERING could lump carmaker with $105m fine – report

Fiat Chrysler may cop a record-breaking fine from US authorities following a series of bungles. Earlier this week, the US National Highway Traffic Safety Administration was forced to recall 1.4 million Fiat Chrysler vehicles, following revelations that the computer systems built into the cars could be exploited by an attacker …
Kelly Fiveash, 26 Jul 2015

Google Glass NOT DEAD. We're just making it 'ready' says chief

Google's executive chairman Eric Schmidt has complained that the end of the Google Glass Explorer program was misunderstood as being the end of the entire Glass concept, “which isn't true”. Following the announcement that Google had shelved the Glass Explorer on January 19th, the assumption was that the techno-specs have seen …

Intel doubles its bounty for women and ethnic minorities

Chipzilla Intel is so desperate to increase the diversity of its workforce that it is paying double its finder's fee for women and minorities, according to reports. Intel is currently offering $4,000 (£2,560) to employees who suggest job candidates that help it achieve its diversity goals, according to the Wall Street Journal …
Kat Hall, 04 Aug 2015
Samsung Galaxy S6

What can't sell Galaxy S6s and keeps going down on you? Samsung and its profits

Samsung Electronics's profits fell eight per cent, year on year, in its second quarter of 2015 – as sales of its Galaxy S6 failed to gain traction. Profit for the three-month period, which ran from April to June, fell to 5.75tn won ($4.9bn, £3.2bn). Profit for the mobile division fell to 2.76tn won, from 4.42tn won a year …
Kat Hall, 30 Jul 2015

Palantir raises $450m in latest fund-raising round

CIA-backed Palantir has raised $450m (£289m) from investors, valuing the biz at $20bn (£13bn). Palantir's software is most famous for reportedly helping the US government track down Osama bin Laden, although this is something it has refused to confirm. It was also backed in its early stages by the the CIA's In-Q-Tel venture …
Kat Hall, 24 Jul 2015
Tim Cook as Mr T

More Apple Car mutterings: Cupertino slurps more autobiz brains

Internet mumblings anent the long-speculated-upon Apple car have intensified following the news that the fruity firm has hired another chap from the auto industry. Doug Betts was the lead for global quality at the Italian-American multinational Fiat Chrysler until last year, but joined Apple in July according to his LinkedIn …
storm

Rackspace shares tumble on lowered forecast, revenue miss

Shares of cloud hosting provider Rackspace were battered on Monday after the firm reported a lackluster forecast for the second quarter of its fiscal 2015. Rackspace's total revenue for the three months ending on March 31 was $480.2m, a 14.1 per cent increase over the previous year's first quarter – not bad, but Wall Street was …
Neil McAllister, 12 May 2015

Policy tsarina Rachel 'baby GIF' Whetstone dumps Google for Uber

Google’s comms and policy chief Rachel Whetstone is leaving the company, just weeks after a bizarre, GIF-laden blog post – and her former team has had its wings clipped. Whetstone has been at Google for a decade and was its US policy chief for seven years. In a sign that Google needs to look more grown up, Whetstone’s team will …
Andrew Orlowski, 14 May 2015
Glorious future of China

Russia and China seal cyber non-hack pact

Russia and China have promised to play nicely and not hack each other. The two countries also agreed to jointly counteract technology that may "destabilise the internal political and socio-economic atmosphere", "disturb public order" or "interfere with the internal affairs of the state", the Wall Street Journal reports. The …
John Leyden, 11 May 2015
Glorious future of China

Google Californian warehouse workers file to form union

Workers at a Google Express warehouse in San Francisco have filed to form a union, citing poor conditions, low wages, and lack of benefits. The Teamsters Local Union 853 announced that 140 workers at the facility have filed for a representation election. Google Express Services, operated by Swiss HR biz Adecco, provides …
Kat Hall, 28 Jul 2015
Sleeper

Airbnb beats actual posh hotel chain with stupidly large valuation

Airbnb is shortly expected to unveil a valuation of $24bn (£15bn), meaning it will soon be worth more than actual hotel chain Marriott, according to reports. This month, Airbnb expects to close a $1bn (£628m) funding round at a $24bn valuation, "people familiar with the matter" have whispered to the Wall Street Journal. In …
Kat Hall, 18 Jun 2015
Michael Hayden

'No evidence' Snowden was working for foreign power says ex-NSA boss

Former National Security Agency director Michael Hayden this week told a conference about how little fallout the NSA has suffered after the Snowden leaks, and detailed how his former agency would hack other governments. He said to his audience at the Wall Street Journal's chief financial officer conference: If somebody would …
Iain Thomson, 18 Jun 2015
4 arrows signs in arrow on wooden wall

Micron blames dismal PC sales for EVERYTHING

Memory firm Micron's third fiscal 2015 quarter results were pretty poor - and the chief exec blames the slumping PC market. Revenues of $3.85bn were three per cent down on a year ago and eight per cent down sequentially. Net income of $491m compared poorly to the $806m reported a year ago and the $934m in the previous quarter. …
Chris Mellor, 26 Jun 2015
Sony Vaio 11 Duo hybrid PC Ultrabook

Vaio returns from the dead wearing sharper suit, bolts in neck

Sony Vaio is making a comeback overseas, with plans to relaunch the brand on Windows 10 devices in the US and Brazil later this year. Last year, Sony axed 5,000 workers worldwide and offloaded its loss-making PC business to private equity firm Japan Industrial Partners (JIP). Chief executive of JIP Yoshimi Ota told the Wall …
Kat Hall, 19 Aug 2015

Hey, Michael Lewis: Stop DEMONISING Wall Street’s SUPERHUMAN high-speed trading

Yesterday's energetic debate on CNBC between BATS Global Markets president William O'Brien and Flash Boys author Michael Lewis and IEX's Brad Katsuyama put the cat among the pigeons over high-frequency trading. It was all provoked by Moneyball writer Lewis' new book, Flash Boys, which, among other things, makes the claim that …
Tim Worstall, 02 Apr 2014

Sky still blue, above the ocean: Google still raking it in

Gigantic automated advertising machine Google has logged yet another quarter of sound results, showing that if you can get punters in the door to buy magic digital beans without ever having a paid staff member interact with them, you'll do well indeed. The Mountain View Chocolate Factory reported revenue of $17.73bn for the …
Neil McAllister, 17 Jul 2015

Alibaba swings a large one with STONKING IPO legal bills

Alibaba's initial public offering legal bill has swelled to $15.8m. As noted by Reuters, that's six times the amount paid by Facebook ($2.6m) when it prepared to float onto Wall Street in May 2012. The Chinese e-commerce giant disclosed its big $15.8m payout to lawyers in a filing with the US Securities and Exchange Commission …
Kelly Fiveash, 06 Sep 2014
EMC federation logo

EMC has nothing to say on VMware sale plan

EMC has reportedly refused to say whether or not it intends to sell a stake in VMware, after being reported as entertaining just such a sale. Confused? Here's how this is playing out. Back in July, activist investor Elliot Management picked up a stake in EMC. Someone then whispered in The Wall Street Journal's ear that Elliot …
Simon Sharwood, 12 Sep 2014
Tongue

Google research bods hope to LICK BATTERY life limits – report

Google has reportedly been attempting to develop batteries that last longer. The world's largest ad broker apparently has a small team of four people beavering away at lithium-ion technology and solid-state batteries in its Google X research lab. According to the Wall Street Journal, erstwhile Apple battery bod Dr Ramesh …
Kelly Fiveash, 12 Apr 2015
The Register breaking news

Adobe startles Wall St with Q4 sales climb

Just one month after Adobe confirmed it was axing around 7 per cent of its global workforce and backing away from its Flash Player software on mobile gadgets, the company has reported final quarter results that surprised Wall Street. It pulled in revenue of $1.1bn (£0.7bn) for the three months ended 2 December, up 14 per cent …
Kelly Fiveash, 16 Dec 2011
Railway line split. Pic: Ian Sane

Qualcomm gazes at its navel while stroking the surgeon's saw

Qualcomm is pondering a breakup as it embarks on a major corporate soul-searching exercise prompted by activist investors, according to reports. The firm may announce the strategic review when it reports fiscal third-quarter results on Wednesday, sources told The Wall Street Journal. It follows reports in April that activist …
Kat Hall, 21 Jul 2015
Man writing a letter

Welcome to the family ... Microsoft licks nib of Surface pen maker N-trig

Microsoft has scooped up Surface Pro 3 pen maker N-trig, after partnering with the outfit for several years. Rumours that Redmond had bought the PC and tab digi pen vendor first, er, surfaced in February. On Friday, Microsoft finally confirmed the buyout of N-trig, which makes the pen tech for the software giant's Surface Pro 3 …
Kelly Fiveash, 02 May 2015
Ciscoblood

Chuck chucks Cisco's China C-suite

Incoming Borg boss Chuck Robbins has sliced a bunch of executives from Cisco's operations in China, in a response to the territory's ongoing weak performance. The move is also in line with Robbins' stated desire to flatten out the Borg's burgeoning bureaucracy. First Rob Lloyd and Gary Moore were given pink-slips, and later, Wim …
Samsung Galaxy S6

The sad song Samsung's sung: SEVENTH quarterly fail in a row

Samsung has warned the market that it's going to miss its previous earnings guidance for the April-June quarter. It will be the Korean goliath's seventh successive quarter of decline in year-on-year terms. The original guidance of 7.2 trillion won (US$6.38 billion) has been downgraded to a forecast 6.9 terawon ($6.13 billion …
Github octodex

Git a load of this: GitHub now valued at $2 billion

GitHub has received a $250m infusion of venture-capital cash that values the code-sharing website at $2bn. That means it's worth more than ZenDesk ($1.78bn), slightly less than the New York Times ($2.17bn), and more than stricken Yelp ($1.87bn). The San Francisco-based upstart said its Series-B funding round was led by VC …
Shaun Nichols, 30 Jul 2015
An Amazon Prime Air drone

YOU ARE THE DRONE in Amazon's rumoured new parcel delivery plan

Amazon looks to be exploring a new way to cut costs by turning you - or anyone willing to deliver parcels - into its drones. In an idea that's most likely a stick with which to beat its delivery contractors, the retail Leviathan reportedly wants Americans to download an app, and if they see a parcel delivery that's convenient to …
The Register breaking news

First the NYT, now the Wall Street Journal: But are hacking attacks from China new?

Analysis The Wall Street Journal is the latest media titan after the New York Times to admit it was raided by Chinese hackers. The WSJ confessed on Thursday a day after the NYT similarly blamed intruders linked to China's military for a persistent four-month assault against its computer systems. The attack against the NYT used a …
John Leyden, 01 Feb 2013
Homer Simpson wearing a Glass headset to bed

Google sneaks out new clip-on tech goggles for saddo Glassholes

Google has reportedly been developing a revision of its infamous Glass product for use in the workplace. The Wall Street Journal cited sources familiar in reporting that the new version of Glass will be a clip-on system designed for specialized tasks. Google execs have previously said that the Chocolate Factory was looking to …
Shaun Nichols, 31 Jul 2015
silicon_valley_shutterstock_map_648

PEAK TECHNOLOGY? Facebook, Amazon, Netflix, Google, Apple stocks hit the deck

Thursday was a rough day on Wall Street for many of the biggest names in the tech industry, as stocks dipped across the board. The Dow Jones Industrial Average fell by 2.06 per cent, and the Nasdaq 100 Index was down 2.8 per cent, on the day Facebook, Amazon, Netflix, Google, and Apple all saw their share prices dip – wiping $ …
Shaun Nichols, 21 Aug 2015

Arista bullish for full year results after 47 per cent YoY growth in Q2

High-performance data centre switching upstart (and Cisco litigation target) Arista Networks has reported 47 per cent revenue growth year-on-year for the quarter ended June 30. The company's financial release says it recorded US$195.6 of revenue, and a GAAP net income of $24 million (up from $21.6 million for the corresponding …
Apple Beats headphones

Will Apple reveal a $10-a-month Spotify rival next week? Yeah, yeah, probably

Apple is gearing up to stream music online for $10 a month, a service that will rival Spotify, it is rumored. Apparently, the cloud-hosted jukebox will be separate from the iTunes Store, and will be revealed at Apple's Worldwide Developer Conference (WWDC) – which kicks off on June 8 in San Francisco. Apple is expected to …
Shaun Nichols, 01 Jun 2015
DirecTV

Uncle Sam poised to OK AT&T DirecTV gobble

AT&T's $48.5bn acquisition of DirecTV looks to be heading toward approval by the US government. Both the US Department of Justice (DOJ) and the Federal Communications Commission (FCC) are expected to sign off on the deal as soon as next week. Bloomberg cited a DOJ source familiar with the matter in reporting that approval for …
Shaun Nichols, 02 Jul 2015
Fire Phone opened

Amazon mobile strategy pivots with swipes at in-app buys, own hardware

Amazon.com looks to be changing its hardware strategy in significant ways. Exhibit A is the new Underground app for Android. Underground walks users through the process required to install a non-Google-Play app on Android and once resident on a device offers an Amazon.com shopping app and access to Amazon's app store. Amazon …
Simon Sharwood, 27 Aug 2015

Your gadget batteries endanger planes, says Boeing

Boeing has decided that lithium-ion batteries, the engine-room of the tech gadget boom, are too dangerous to haul around in bulk on cargo planes. The company has warned operators of its aircraft not to carry bulk shipments of batteries until logistics companies design better transport packaging and shipping procedures. …

Pakistan bans BlackBerry Enterprise Server

Pakistan has reportedly ordered the nation's carriers to cease offering services that route email through BlackBerry Enterprise Server (BES), a product that among other things encrypts email. Pakistan's Express Tribune reports that the nation's Ministry of Interior last Friday instructed the Pakistan Telecommunication …
Simon Sharwood, 27 Jul 2015
Axe, image via Shutterstock

Bloodthirsty Microsoft prepares for imminent 'major' job cuts

Microsoft is sharpening the axe for a "major" round of job cuts, according to a report. The New York Times reckons on a fresh round of layoffs on Wednesday (July 8) but there were no more details. Microsoft is reported to have not commented. Any cuts would come on top of the 18,000 already drawn up. Cuts are expected to fall …
Gavin Clarke, 08 Jul 2015

Microsoft doubles down on productivity with Wunderlist buy

The reinvention of Microsoft under chief executive Satya Nadella continues with reports the software giant has bought German-based iOS app Wunderlist. The purchase, originally reported behind the Wall Street Journal paywall, is in the ballpark of $US100 - $US200 million, making it roughly the same size deal as the company paid …

Google and Max Mosley settle thrash'n'tickle sex vid spat

Google has struck a private settlement deal with Max Mosley over images that show the ex-Formula One chief engaging in a sadomasochistic sex pantomime. However, videos and photos of the thrash'n'tickle sex sesh were still viewable via Google.co.uk's search engine, at time of writing. The Wall Street Journal reported on Friday …
Kelly Fiveash, 17 May 2015
Taylor Swift

Bring on the Music, Apple: Spotify ups the ante - and money pot

Music streaming biz Spotify has raised $115m (£75m) from an investor, part of the latest funding round which — according to reports — values the company at a staggering $8.5bn (£5.7bn). Swedish telephone biz TeliaSonera AB today confirmed it has handed over a further $115m to Spotify, with the company having been an investor for …
Kat Hall, 10 Jun 2015
arrow pointing up

Compellent basks in Wall Street's love

Shunned by Wall Street since making less profit than the street gods had been led to believe it would, Compellent roared back into favour yesterday after announcing it had made a boatload of money in its latest quarter. Compellent makes Storage Center disk and solid state drive arrays for small and medium enterprises. The arrays …
Chris Mellor, 28 Oct 2010
Ship in trouble

Standard General bids to save RadioShack from oblivion

Historic retailer RadioShack, currently under Chapter 11 bankruptcy protection, will learn its fate today, as its assets go up for auction, although its options for survival look distinctly limited. A $145.5m bid from Standard General LP, a hedge fund which is also one of RadioShack’s lenders, could save 9,000 jobs and 1,723 out …
Simon Rockman, 23 Mar 2015

Mellanox goes to Wall Street for cash

Updated InfiniBand and Ethernet networking chip and equipment maker Mellanox Technologies announced after the market closed in New York on Monday that it would be issuing up to 3 million shiny new shares to raise some cash for working capital and strategic investments. The offering, which has J.P. Morgan Securities, Credit Suisse …