Articles about Wall Street

Chicago Mercantile Exchange floats Wall Street cloud

Cloud computing promises the easy migration from one supplier to the next, but we all know that isn't the case because there isn't any market punters can access to buy and sell their resources. But on Monday that changed when the Chicago Mercantile Exchange (CME) announced it had signed a non-binding Letter of Intent with cloud …
Jack Clark, 01 Oct 2013
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Tech Data: If only we could discount forex and impact of closing country ops...

Tech Data continued to pile on the pounds dollars in its latest quarterly financials – but only if the crushing currency burden and the impact of exiting operations in Latin America were discounted. In reality, the world's second largest technology distributor reported a five per cent slump in sales to $6.428bn for Q3 of …
Paul Kunert, 24 Nov 2015

IBM's Watson gets a job on Wall Street

IBM has signed a deal with banking group Citi to use the data-analyzing abilities of the Watson supercomputer to help deal with its customers. Citi will try out Watson – which beat off human competition to win the US quiz show Jeopardy! last year – in a variety of roles. These could include building customer profiles based on …
Iain Thomson, 06 Mar 2012

Wall Street's internet darlings require an endless supply of idiots

Dinner Party Punchup The following stories have one thing in common. Can you guess what it is around the dinner table this evening with your friends? Last week Samsung announced the acquisition of a crowd-funded startup called SmartThings for $200m. USA Today wrote that the deal “has also once again validated the power of crowdsourcing platform …
Andrew Orlowski, 23 Aug 2014
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 …

Lone sysadmin fingered for $462 MEEELLION Wall Street CRASH

On August 1st, 2012, high-frequency equities trader Knight Capital lost $US462 million after automated trading systems went haywire, a mess that has now been traced to a mistake by a single sysadmin. The incident saw the company place orders for many more shares than its clients wanted to buy. Knight ended up holding the baby, …
Simon Sharwood, 23 Oct 2013
The Register breaking news

Feds stamp on cash pipeline to Mt Gox, Bitcoin's Wall Street

The Department of Homeland Security has frozen an online trade route between US citizens and Mt. Gox - the world's largest exchange of crypto-currency Bitcoin. The move will be interpreted as an opening skirmish in a battle to control the electronic cash, which has exploded in popularity and so far avoided regulation by …
Jasper Hamill, 15 May 2013
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Microsoft: Ha ha, my Wall Street friends - THIS time the victory is OURS

Microsoft disclosed on Thursday its earnings for the first time since outgoing CEO Steve Ballmer announced the company's radical restructuring in July, and from all appearances, all is well in Redmond. The software behemoth reported profits of $5.24bn (up 17 per cent year on year) and earnings per share of $0.63 on record …
Neil McAllister, 25 Oct 2013

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
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Virgin Media daddy Liberty Global swoops on Cable & Wireless Communications

Liberty Global – the owner of UK telco Virgin Media – has agreed to buy Caribbean-based operator Cable & Wireless Communications for £3.5bn ($5.3bn). The cash and stock deal extends Cable Cowboy John Malone's lasso into Latin America. CWC said that the buyout would "enhance customer benefits" and allow the business to grow as …
Kelly Fiveash, 17 Nov 2015

Yahoo's! tax-free! Alibaba! switcheroo! gets! a! rough! ride! from! US! taxmen!

The amazing Yahoo! / Alibaba / SpinCo tax structure has suffered a blow: America's Internal Revenue Service has refused to say whether or not it approves or disapproves of Yahoo!'s tax-avoidance chicanery. And that usually spells trouble. Back at the start of the year, the Purple Palace announced it would shuffle its roughly …
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
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Gods' own broadband: Loon option for DEITY

Alphabet has its eye on its next billion, reportedly holding meetings in India to get Project Loon off the ground. The country's IT minister, responsible for the gloriously-named DEITY (Department of Electronics and Information Technology), expressed his interest in the project late last week. The move would add India to the …
Satya Nadella

Sales down, profit up, 1,000 bods chopped: Your one-minute guide to Planet Microsoft

Microsoft has published its figures for the first quarter of the 2016 financial year (its accounting department shuns calendars) and reports that profits are up, even though revenues fell. "We are making strong progress across each of our three ambitions by delivering innovation people love," said CEO Satya Nadella in a canned …
Iain Thomson, 23 Oct 2015
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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
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Slack raises $160m from investors, gets mega $2.8bn valuation

Workplace chat app Slack has confirmed it has raised $160m (£106m), valuing the company at $2.8bn (£1.9bn), according to reports. The Slack service allows employees to create and manage internal message boards for individual projects and departments. Previously the company was valued at a mere $1.2bn (£800m). In an interview …
Kat Hall, 17 Apr 2015
Photo by Charles Chan

Alibaba presses 'play' on multi-billion video host buy

China's Alibaba is going to sling roughly US$3.67 billion at the country's “YouTube equivalent”, Youku Tudou, to buy a half-billion video clicks via the 80-plus per cent of the company it doesn't already own. The South China Morning Post says the Middle Kingdom's “largest online video services provider” will be taken private …
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
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Googley TENTACLES reach towards YOUR email

Google is in talks to allow advertisers to target ads in search results using existing customers' email addresses, according to reports. The ad flinger has suggested that advertisers hand over customer information such as email addresses as part of moves to track users’ online and offline activities for marketing purposes, …
Kat Hall, 15 Apr 2015
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Peak Google? Chocolate Factory cuts costs amid dwindling growth

Google is curbing staff recruitment and introducing a number of penny-pinching efficiency practices to try and gets its profit growth back on track, according to reports. A number of recruiters, venture capitalists and employees told the Wall Street Journal the Chocolate Factory is casting an increasingly critical eye over its …
Kat Hall, 14 Jul 2015
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Big Blue lets Chinese government eyeball source code – report

IBM has reportedly granted Beijing controlled looking rights to its proprietary source code to allow government officials to scrutinise the software for spook backdoors. The move comes some 12 years since Microsoft brought in its Government Security Program, to allow nations outside of the US to eyeball its code. According to …
Kelly Fiveash, 18 Oct 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

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
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

Big trouble in big China: Crashing economy in Middle Kingdom body slams US tech stocks

The Dow Jones Industrial Average shed more than 1,000 points in the first few minutes of trading on Monday, as the effects of China's economic woes spilled over onto Wall Street. China's Shanghai Composite index plummeted by 8.7 per cent – its biggest one-day drop since the global financial crisis of 2007 – sending waves into …
Neil McAllister, 24 Aug 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

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
eBay

eBay about to put part of self on eBay

eBay is about to sell off its enterprise services unit, according to folks whispering in the ear of The Wall Street Journal. The journal names private-equity outfit Permira as the buyer and suggests the company's pen is poised over a cheque with US$900m written in the “amount” field. Ebay Enterprise, as the division is known …
Simon Sharwood, 16 Jul 2015

Brussels paws Android map apps to see if they displace Euro rivals – report

The European Commission has reportedly widened the scope of its investigation into Google's alleged anti-competitive Android operating system tactics in the 28-member-state bloc. According to Bloomberg, officials at the antitrust wing of the European Commission have fired off missives to companies seeking their views on …
Kelly Fiveash, 11 Nov 2015

Embarrassed Amazon admits to actually MAKING MONEY as cloud biz blooms

Wall Street got a nasty Q2 shock today from Amazon, which announced an unexpected profit driven largely by its cloudy AWS business. Total net sales for the three months ending on June 30 were $23.19bn, a 19.9 per cent year-on-year gain that ran right past financial analysts' estimates. But the real surprise was that the …
Neil McAllister, 23 Jul 2015
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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 …

From $6bn to $4.2bn to $2.9bn: Square's ever shrinking unicorn horn

Analysis Silicon Valley is going to see just how much of its own hype has transferred to Wall Street Thursday with a rare IPO of one of its "unicorns" – companies that venture capitalists have valued at over $1 billion. The credit card reader company Square – which has yet to turn a profit – will be selling a portion of its shares at a …
Kieren McCarthy, 19 Nov 2015
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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

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 …
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

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 …

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
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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
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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
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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

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 …
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
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Iranian hackers ease off on US after friendly nuke chats, says NSA

Cyber-attacks against the US by Iranian hackers have eased noticeably since the countries' landmark nuclear weapons accord, National Security Agency director Michael Rogers has said. Speaking at a House Intelligence Committee hearing on Thursday, the Wall Street Journal [paywall] reported him saying there had been “significant …
Kat Hall, 11 Sep 2015
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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

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

Dow Jones the latest big-name breach

A bunch of high-net-worth individuals and stock traders are opening letters with the unwelcome message “we were breached” under the Dow Jones letterhead. The Murdoch-owned company says it has notified 3,500 individuals that their personal data might have been accessed in a breach that dates back to August 2012. That's almost …
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
Robert DeNiro in Godfather II

Goodfella's attack smacks Slack chap for whack crack? It's a fact, Jack

Legendary actor Robert De Niro doesn't think much of tech's "brogrammer" culture, and he made as much known this week when he verbally eviscerated one smart-mouthed app developer. The confrontation (if you could call it that) took place at an awards show in New York hosted by the Wall Street Journal. According to the New York …
Shaun Nichols, 07 Nov 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 experiences ‘I love China’ company rep breakdown … 22 times

Analyst and investor conferences can be a platform for all manner of odd ball questions, but one company rep at a presentation by Chinese tat seller Alibaba recently took the opportunity to express his love for the Middle Kingdom. Repeatedly. Joe Tsai, executive vice chairman of Alibaba, was about to kick off with some …
Kat Hall, 21 Sep 2015