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Jan 15- Riverbed Technology Inc rejected hedge fund Elliott Management Corp's $3.08 billion offer, increasing pressure on the network gear maker to deliver on its turnaround plans.
Jan 15- Network gear maker Riverbed Technology Inc rejected hedge fund Elliott Management Corp's $3.08 billion takeover offer and estimated fourth-quarter results above expectations. Riverbed forecast first-quarter revenue of $262 million- $268 million, above analysts' view of $258.5 million.
CNBC's Jim Cramer says Intel's recent focus on mobile and wearable tech will help the company survive a weak PC market.
Paul Singer's Elliott Management Corp. is flexing its activist muscles this week and has plans for much more in 2014.
Jan 13- Hedge fund Elliott Management Corp urged network equipment maker Juniper Networks Inc to buy back shares, start paying a dividend and consider slimming down, less than a week after it offered to buy Juniper's rival, Riverbed Technology. The stock has been stuck in the $20 range for two years, a far cry from the high of $228.50 it hit during the dotcom boom.
Some of Monday's midday movers:
Jan 13- Juniper Networks Inc shareholder Elliott Management Corp urged the network equipment maker to buy back shares, cut costs and consider exiting some businesses to boost shareholder value. Juniper shares rose 10 percent to $25.95, their highest in more than two years, in early trading on the New York Stock Exchange on Monday.
Jan 13- Juniper Networks Inc shareholder Elliott Management Corp urged the network equipment maker to buy back shares, streamline its product line and cut costs to boost shareholder value. Elliott, which owns 6.2 percent of Juniper, said the company should repurchase $3.5 billion of shares.
Jan 8- Activist hedge fund Elliott Management Corp offered to buy Riverbed Technology Inc for about $3.08 billion in cash, a move analysts said was likely to trigger higher bids for the network equipment maker.
Jan 8- Activist hedge fund Elliott Management Corp offered to buy network equipment maker Riverbed Technology Inc for about $3.08 billion in cash, an offer analysts said was likely to be a precursor to a higher bid.
Almost everyone wants to see the markets drop, but for different reasons.
Dec 13- Qualcomm Inc said Chief Operating Officer Steve Mollenkopf, touted as a possible candidate for the top job at Microsoft Corp, will become the chipmaker's CEO in March, replacing Paul Jacobs who becomes executive chairman.
Dec 12- Network equipment maker Ciena Corp forecast current-quarter revenue largely below Wall Street estimates as its telecom customers held back on spending in the last few months of the year. Ciena shares fell as much as 6 percent after the company also reported lower-than-expected fourth-quarter profit due to higher costs.
Dec 12- Network equipment maker Ciena Corp reported a lower-than-expected quarterly profit as costs rose 20 percent and forecast current-quarter revenue largely below Wall Street estimates, sending its shares down 11 percent before the bell.
Jim Cramer said these two Dow stocks are to be avoided at all costs until the end of the year.
Signs of rapidly worsening Chinese demand for IT giants IBM and Cisco Systems are starting to spook Hewlett-Packard investors.
Nov 14- Cisco Systems Inc's shares fell as much as 13 percent on Thursday after the network equipment maker forecast a steep drop in revenue for the current quarter, prompting at least 17 brokerages to cut price targets on its stock and two to downgrade their ratings. Analysts cut their price targets on Cisco's stock by as much as $6 to a low of $20.
Nov 14- Cisco Systems Inc's shares were set to open about 13 percent lower after the network equipment maker forecast a steep drop in revenue, prompting at least two brokerages to downgrade its stock and 12 to cut their price targets.
NEW YORK, Nov 6- Network equipment maker Cisco Systems Inc, looking to protect its core business from new competition, has bought out the remainder of its majority-owned data center technology start-up, Insieme, in a deal that could cost up to $863 million.
Besides the ousted co-founders, there are a number of other key players who are responsible for growing and running the company now.