Articles about Wall Street

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

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 …
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
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

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
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
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

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

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

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
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
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
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
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 …
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
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
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
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
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

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 …
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

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
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
hands waving dollar bills in the air

GoFundMe shows users how it's done, cashes in with $600m valuation

Online hat-passer GoFundMe has sold off a controlling stake of its business to investors who value it at roughly $600m. The Wall Street Journal cited sources familiar with the matter in reporting the donations broker had completed a round of venture capital funding that culminated with investors taking over the majority control …
Shaun Nichols, 25 Jun 2015
stock_ticker_board_648

SEC launches probe into tech startup share selling 'black market'

The US Securities and Exchange Commission (SEC) is launching a probe into the booming "black market" in hotly-tipped, privately-held tech stock occurring outside the US regulator's watchful gaze. According to a report by The Wall Street Journal [paywall], the SEC is to launch an investigation after observing a recent boom in …
Kat Hall, 06 Jul 2015
Stanley Kubrick's The Shining

Yahoo! reverses! reversal! FLIPS! profit! into! loss!

Yahoo! has reported a $22m loss for its second quarter, as CEO Marissa Mayer tries to buy market share off Google and Facebook. For the same period last year, the ad business booked a $270m profit, so the quarter represents a slump of nearly $300m. The loss, which Reuters briefly described as a “lower-than-expected profit” …

Google hires engineers to run Android OS on virtual reality gear – report

Google has padded out a team of engineers to beaver away at an Android operating system to power virtual reality devices, it has been reported. According to the Wall Street Journal, the ad giant plans to follow its well-worn OS smartphone path, by releasing a VR version of its platform that will be freely available online. …
Kelly Fiveash, 07 Mar 2015

OPM data breach: Looking at you, China! National Intelligence head stares out Beijing

James Clapper, Director of the US' National Intelligence body, has suggested Beijing is behind the successful attacks on the Office of Personnel Management (OPM), which resulted in the theft of millions of federal employees' (including intelligence workers) highly sensitive biographies. Clapper, who reports directly to the …
Apple iPhone 6 and 6 Plus

Swimming in smartmobe profit? Let us guess, you're Tim Cook?

Apple single-handedly accounted for nine-tenths of smartphone profits in the first months of 2015, beancounters claim. Analysts at Canaccord Genuity have told the Wall Street Journal that the Cupertino giant brought in 92 per cent of profits amongst the eight top smartphone vendors. Samsung claimed 15 per cent of profits for …
Shaun Nichols, 13 Jul 2015

Silicon rumour-mill says Avago's next acquisition target is Broadcom

Shopaholic Avago Technologies is reportedly in talks to acquire Broadcom, in an acquisition that would significantly boost its presence in the high-end smartphone space. First reported behind The Wall Street Journal's paywall, the talks are attributed to the usual “people familiar with the matter”. Reuters says the deal could …
Photo by Mike Mozart

Comcast, Time Warner Cable in crunch talks with FCC, DoJ over $42bn mega-merger

The proposed merger of Comcast and Time Warner Cable (TWC) is on the rocks, it appears. Sources close to the two companies have told The Wall Street Journal that the US Department of Justice and the FCC are not happy with the proposed business gobble, and both want to hold face-to-face talks to discuss the ins and outs of the …
Shaun Nichols, 20 Apr 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
Apple iPhone 6 and 6 Plus

Apple: Factory minions, need another 90 million iPhones over here, stat

Apple is expecting to sell up to 90 million of the next iPhone, apparently. People whispering to the Wall Street Journal claim that the Cupertino giant expects to shift 80 to 90 million handsets when the new models go on sale later this year. Accordingly, the biz has told its factories to crank out enough handsets to meet that …
Shaun Nichols, 08 Jul 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 …