Major shareholders like Carl Icahn who opposed Dell's $24.9 billion go-private acquisition were just trying to drive up the stock price, Michael Dell tells CNBC.» Read More
Apple Chief Executive Steve Jobs said Thursday the company will offer a $100 store credit to people who bought the iPhone before an announced $200 price cut, even as investor concerns about Apple's profit margins pushed the company's shares lower for a second consecutive day.
Apple announced a major overhaul of its iPod line and cut the price of the iPhone. Shares fell on news that the lower-end iPhone would be slashed 33%, to $399.
Dell reported preliminary second-quarter earnings of 35 cents a share on sales of $14.8 billion Thursday, topping expectations as it benefited from lower costs for disk drives, microprocessors and other components.
Gateway said on Wednesday it plans to sell its professional business segment to MPC Corp for about $90 million.
Stocks are winding up for a higher open as traders focus on the Fed Chairman Ben Bernanke's Jackson Hole address and President Bush's expected subprime rescue plan for defaulting homeowners. Bernanke's 10 a.m. speech has been the buzz of global markets for more than a week and it is being watched carefully for any clues on how the Fed might react...
It's been a rough year for Dell, characterized by a particularly rough quarter that saw the company try to put deep financial shenanigans behind it: the pay-out of a $40-million-plus severance package for fired CEO Kevin Rollins, trying to deal with a restructuring that cost the company 8,000 jobs, continued loss of market share to rival Hewlett-Packard and shipment problems that hurt its most recent product introductions.
Shares of Apple rose sharply after the company said it will hold a product launch next week, prompting speculation that a new line of iPods will be unveiled.
It's the kind of blowout quarter weary tech investors were hoping for. Just about everyone suspected that HP would beat estimates, thanks to ongoing momentum in the personal computer industry, as well as falling component prices, especially memory chips like DRAMs which have seen a 40% decline in some sectors.
Computer and printer company Hewlett-Packard said Monday it will buy data center automation software company Opsware in a tender offer for about $1.6 billion, or $14.25 per share in cash.