Articles about Wall Street

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
steve_jobs_index_648

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 …
shutterstock_213172012

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
HPE_machine_graphic

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
trolley_shopping_648

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
Screaming kid

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
Apple logo on glass fronted building. Licensed under cc0 / editorial use only

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
graph_decline_648

Juniper turns around in 2015, worried about 2016

Juniper Networks has managed to disappoint Wall Street with revenue growth, a turnaround from loss to profit and earnings per share better than analyst forecasts. The problem? It doesn't like next year's outlook. Its Q4 2015 revenue of US$1,319.6 million was 20 per cent better than Q4 2014 and six per cent ahead of Q3, with a …

Billion-dollar blood-test unicorn biz Theranos 'putting lives at risk'

Controversial blood-testing upstart Theranos has been told to take immediate action at one of its testing facilities – or lose its certification. A letter [PDF] sent from federal health inspectors the company said the company's California testing facility presented "immediate jeopardy to patient safety". Its hematology lab, …
Kieren McCarthy, 27 Jan 2016
Files in manager's desk drawers: manila folder marked "Redundancies". Image via shutterstock

VMware to 'axe 900 jobs'

VMware is mimicking cost-cutting actions at alpha shareholder EMC by pushing through its own job cull: 900 roles, to be specific, or some five per cent of the 18k-strong global workforce. The axe is being shined by Virtzilla, reportedly to counter a weaker sales pipeline and share price drop. Let’s face it, nothing gets …
Paul Kunert, 25 Jan 2016
Twitter for Mac New

Twitter boss ‘personally’ grateful as five Twitter execs walk

Jack Dorsey waved goodbye to five senior Twitter execs over the weekend, and didn’t disappoint avid company-watchers when he issued yet another memo worthy of Oscar Wilde. Engineering boss Alex Roetter, HR chief Skip Schipper, media head Katie Stanton and product head Kevin Weil have “all chosen to leave the company”, Dorsey …
Joe Fay, 25 Jan 2016

IBM still on a (downward) roll with 15th consecutive quarterly revenue drop

IBM continues to take a beating as it struggles to transition its business to a focus on cloud and analytics products. The fourth quarter of 2015 brought the following returns: Revenue was $22.1 billion, down 9 per cent from the previous year's quarter. Net income was $4.5bn on the quarter, down 19 per cent. Earnings per …
Shaun Nichols, 19 Jan 2016
Toilet roll printed with fake US $100 bills

Vendors reporting their cloud revenue with funny money

There's no way to tell just how successful your suppliers are in the cloud, because nobody's counting cloud cash consistently. So says analyst house Gartner in a paper titled “Vendor Cloud Revenue Claims — Should Enterprises Care?” Gartner thinks you need to care, because vendors are finding all sorts of ways to cook up a big …
Simon Sharwood, 18 Jan 2016
Chairman Mao image via Shutterstock

Microsoft's patent tumble: A kinder, gentler IP politics? No

The fact that IBM filed more patents in 2015 than anybody is about as usual as Alexander Lukashenko sweeping to a fresh presidential term in Belarus. For a 23rd year, our glorious leader IBM has been ranked number one in the top 50 US patent assignees, with 7,355 grants. Samsung Electronics came second with 5,072 with Canon KK …
Gavin Clarke, 14 Jan 2016
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

Qualcomm, TDK in US$3 billion joint venture to bake radio chipsets

Qualcomm is going to sling around US$1.2 billion into a joint venture with TDK to build radio chipsets. According to Bloomberg and Reuters, the new outfit will be called RF360. TDK's contribution to the roughly $3 billion business will be patents, manufacturing assets and design capabilities. The operation will be based in …
casino_security_648

As easy as 'Citrix123' – hacker claims he popped Citrix's CMS

A Russian hacker claims he broke into systems run by Citrix, and gained access to potentially a huge number of customers. The binary buster known as "W0rm" exploited weak credentials – the username press@citrix.com and the password Citrix123 – to get into the content management system that powers Citrix's websites. W0rm …
Team Register, 13 Jan 2016
Violin VIMM

Violin Memory's top dog snubs activist investors Clinton Group

Violin Memory's CEO has given the company's board a public pat on the back, snubbing activist investors as he does so. After the Clinton Group letter putting Violin's board on notice to sell the company well before the June AGM, threatening to put up three of its own nominees for board seats, Violin has issued a statement …
Chris Mellor, 11 Jan 2016
Smartwatches

2016 in mobile: Visit a components mall in China... 30 min later, you're a manufacturer

One trend overshadowed all others in 2015: there's tons and tons of everything. You probably know why. China has piles of cash, which means huge capital splurges in all directions. Which has caused a global glut of stuff. Steel, aluminium, rubber ... and consumer electronics. China might not exactly be dumping smartphones, but …
Andrew Orlowski, 02 Jan 2016
America

NSA spying on US and Israeli politicians stirs Congress from Christmas slumbers

After two years of doing little about the mass surveillance revealed by Edward Snowden, the US Congress has sprung into action in less than two days – with investigations into the NSA spying on some the legislature's members. On Tuesday the Wall Street Journal reported that conversations between members of Congress and senior …
Iain Thomson, 31 Dec 2015
Data scientist image via Shutterstock

Supermicro's ability to enable should worry IBM and Lenovo

Sysadmin's 2015 review part 3 With 2015 drawing to a close and 2016 about to begin, it's time to reflect on the fact that the world never stops changing. The tech industry certainly constantly changes, and so here's one sysadmin's final view of the industry's movers and shakers. In part one (link here) I took a look at Amazon, Oracle and Microsoft. In part …
Trevor Pott, 31 Dec 2015

Cat fight: Watch out YouTube, here comes Facebook

I may not be the best person to write this. I am, after all, a YouTube refugee. Or renegade. Or reject. Roughly eight years ago YouTube booted me for posting a 20-second video I took at an Arsenal soccer match. While I have apparently been granted a recent pardon (I can upload again!), my criminal status has kept me from using …
Matt Asay, 30 Dec 2015
Example of tidy cabling

Cisco, HPE and Dell: Let's just say 'it's complicated' for now

Sysadmin's 2015 review part 2 With 2015 drawing to a close and 2016 about to begin it's time to reflect on the fact that the world never stops changing. The tech industry certainly changes constantly, and so here's one sysadmin's view of the industry's movers and shakers. In part one, I took a look at Amazon, Oracle and Microsoft. Here in part two I am …
Trevor Pott, 26 Dec 2015

YouTube puts T-Mobile US on naughty list for throttling all vids to 480p

YouTube has waded into the row over T-Mobile US's Binge On service. Binge On launched in November, and lets people watch unlimited amounts of video from Netflix, Hulu and other selected providers: the streams do not count against subscribers' monthly download caps. There is a catch, though. These toll-free videos are streamed …
Kieren McCarthy, 23 Dec 2015

Iranian hackers targeted New York dam, had a quick nosy around

Iranian hackers penetrated the online control system of a New York dam in 2013, according to reports, and poked around inside the system. The Wall Street Journal reported that hackers gained access to the dam through a cellular modem, according to an unclassified Homeland Security summary of the case. Two sources said the …
Kat Hall, 21 Dec 2015
Mark Hurd and Safra Catz

Oracle, looks like your revenues were down. 'Cloud! Cloud! Look at the cloud!'

Oracle is pointing to continued growth for its cloud business as the bright side in a quarter that saw the enterprise giant drop revenues slightly, but still top Wall Street expectations. Big Red's fiscal 2016 Q2 numbers ending November 30 were as follows: Total revenues were $8.9bn, down 6 per cent from the $9.5bn haul over …
Shaun Nichols, 17 Dec 2015

I can turn Yahoo! around claims hedge fund manager

An "activist investor" has sent a 99-page hate letter to Yahoo! CEO Marissa Mayer arguing for her ousting and outlining a range of changes that would boost the troubled company's share price by $30 a share. Despite five CEOs over ten years having tried and failed to turn the one-time online giant Yahoo! around, the head of New …
Kieren McCarthy, 14 Dec 2015
Green light

EMC: No rival offers, so we're flying solo with Dell

Dell’s proposed $67bn acquisition of EMC edged ever closer this weekend after the storage titan confirmed the end of the so-called "go shop" period that allowed rivals bidders to enter the fray. The biggest deal in tech history was first announced in October when privately-owned Dell stated it will pay EMC shareholders $33.15 …
Paul Kunert, 14 Dec 2015

Chinese cyber chief plays down censorship concerns

The head of the China's Cyberspace Administration has again been playing down censorship concerns ahead of a global internet governance meeting in the country. At a press conference about the second annual World Internet Conference in Wuzhen, Lu Wei faced questions about the country's extensive filtering and censoring of the …
Kieren McCarthy, 09 Dec 2015

Spotify mulls Swift change of policy – we can stream Taylor, but we'll charge

Spotify has reportedly been considering a major policy change to its music-streaming service, by allowing big name artists to release albums on the platform only to paying customers. It comes after Spotify's chief Daniel Ek very publicly dissed pop star Taylor Swift late last year, after she pulled her catalogue from the …
Kelly Fiveash, 09 Dec 2015
Sleeper

Airbnb confirms it raised $1.5bn in spite of regulatory worries

Airbnb has confirmed it has raised a mega $1.5bn (£1bn) in funding, according to a filing the company placed with the US Securities and Exchange Commission. Back in July, The Wall Street Journal reported the funding round would value the company at $24bn (£15bn), meaning it will soon be worth more than actual hotel chain …
Kat Hall, 08 Dec 2015

Monster fund manager sticks pin in Silicon Valley's unicorn bubble

One of the United States' largest fund managers has pricked the bubble of Silicon Valley by suggesting that today's enormous tech valuations are not realistic. Will Danoff of Contrafund – a retirement fund of Fidelity Investments that boasts $111 billion invested – has warned that his faith in so-called "unicorns" is not high …
Kieren McCarthy, 02 Dec 2015

Google says it tried to preempt EU antitrust probe. That worked well

Google has said it took measures to preempt the lengthy antitrust probes currently being carried out by the European Commission. Oddly, that approach failed. Speaking at the EU's Internal Market sub-committee, Adam Cohen, head of competition and economy policy for EMEA at Google, said the search firm made a decision to preempt …
Kat Hall, 25 Nov 2015