The PC's fall from popularity helped drive a hard-hit Dell to take itself private, but the computer maker now sees signs its business is turning around.» Read More
The news: American International Group Inc., the world's largest insurer, on Thursday reported fourth-quarter profit rose sharply from a year-ago period weighed down by hurricane losses, but results still missed Wall Street projections. The word...
Stocks closed sharply lower on Friday, sparked by a wave of last-minute selling by investors reluctant to be in the market over the weekend.."There was just no good news that came out today to convince people to buy stocks," said Charles Rotblut, senior market analyst at Zacks.com. "There are a lot of people happy with taking money off the table and waiting until Monday to see how it unfolds."
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Wall Street would be set for a dampened opening even without the rain that's falling on New York City this morning. Stocks look ready to drop on the opening but so far without the look of fury that set up yesterday's wild morning selloff. Europe is mostly weaker, though the UK market was slightly higher. Asian markets were mostly lower overnight but China was up 1.2% and Hong Kong also moved higher.
Chinese computer maker Lenovo is recalling 205,000 ThinkPad computer battery packs made by Japan's Sanyo Electric because they pose a fire hazard.
Tech bellwether Dell posted net income for its fiscal fourth quarter ended Feb. 2 of $673 million, or 30 cents a share, and revenue was $14.4 billion.
Dell just released its numbers and talk about a mixed bag. On the surface, they look OK. The company reports 30 cents a share on $14.4 billion in revenue. But because of all the turmoil at the company, the Street is all over the map in terms of expectations. Thomson says analysts were looking for 29 cents on $14.89 billion. But Shaw Wu at American Technology Research was expecting 31 cents on $15 billion, and Eric Ross at Think Equity Partners anticpated 30 cents on $15.4 billion
Hey everyone. I know it's been an exceedingly long time since my last post, and I'm eager to get back into the swing of things with regular, daily, and hopefully a few times a day ruminations and breaking news about the newsy things happening here in the Silicon Valley.
There's hesitancy in the stock market this morning after yesterday's cautious move upwards. As of now, stocks look set to open lower. Economic data could help set direction when we see jobless claims and personal income and spending. The 10 a.m. New York time release of the ISM manufacturing data will also be important. Asian stocks were under pressure overnight, and European stocks have retreated from earlier highs.
Microsoft on Thursday lost the first of six patent lawsuits brought by Paris-based telecom equipment maker Alcatel-Lucent, and a federal district court jury set damages at $1.5 billion.
Excluding one-time items, profit for the company's fiscal first quarter rose to $1.826 billion, or 65 cents a share. Revenue rose 11% to $25.1 billion from $22.7 billion.
Dell will pay $5 million in severance to former Chief Executive Kevin Rollins after he was replaced by founder Michael Dell in January.
Dell has hired Motorola executive Ron Garriques to take charge of all consumer products. -- the latest move in a series of management changes at the computer maker.
Dell named Solectron Chief Executive Mike Cannon to head up the computer company's newly formed global operations division, where he will oversee all manufacturing, procurement and supply chain activities.
Solectron CEO Michael Cannon has resigned to take a newly-created position at Dell where he will be in charge of all manufacturing, procurement and supply chain acitivities.
Citigroup said it will rebrand itself as "Citi" and sell its trademark red umbrella to St. Paul Travelers.
As Cisco Systems rides the wave of surging demand for increased bandwidth as consumers digest more and more video online, some are wondering if the networking giant will tug the rest of the tech industry in the same direction. But as interviews with analysts this morning on CNBC showed, the so-called “Cisco Effect” is up for debate.
The Dow Jones Industrial Average closed fractionally higher, helped by strength in Wal-Mart and Boeing, but the broader market failed to gain traction.
In a memo to Dell employees days after returning as chief executive officer, Michael Dell said the beleaguered computer maker is quashing bonuses for 2006 and reducing managers to help cut costs and steer the company back toward dominance.
On Wall Street, there’s a guilty pleasure in watching the rich and powerful stumble. After the resignation Dell Chief Executive Kevin Rollins, many investors began quietly asking where the axe might fall next. Jon Ogg, the editor of 24/7 Wall Street.com, has accurately predicted changes at the helm of Home Depot, Gap and, as we mentioned, Dell. Today on CNBC’s “Street Signs,” we asked the question that everyone is wondering.