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Technology giant IBM injected some much-needed good news into the stock market Thursday when it made a surprise announcement that its third-quarter profit beat Wall Street estimates by 4 US cents per share The financial report, which came a week early, sent shares of Big Blue up nearly 2 percent to about $92, curbing a steep slide in the Armonk, N....
Search engine giant Google has taken yet another step in its effort to monetize YouTube, the online video portal it acquired for US$1.65 billion about two years ago Now, YouTube users can click on advertisement links leading them to products offered for sale at online outlets like Apple's iTunes store and Amazon.com....
Advanced Micro Devices is splitting into two companies with the help of a massive cash infusion by investors in the United Arab Emirates capital Abu Dhabi AMD will continue designing semiconductor chips for computers and servers. The spinoff, called "The Foundry Company," will focus on manufacturing semiconductor chips....
Online auctioneering pioneer eBay announced it will slash 1,000 jobs and acquire online payment processor Bill Me Later for US$820 million in cash and $125 million in outstanding options The 1,000 layoffs will cut San Jose, Calif.-based eBay's total workforce by 10 percent and will result in a pretax restructuring charge of about $70 million to $80...
Take-Two Interactive Software, maker of the immensely popular "Grand Theft Auto" video game series, has decided to remain independent after fielding several acquisition bids over the past few months from other video game software makers -- most notably, Electronic Arts New York-based Take-Two, which also has a popular line of sports titles such as ...
Computing giant HP has announced its intention to acquire storage software company LeftHand Networks for US$360 million in cash The move by Palo Alto, Calif.-based HP is an attempt to shore up its presence in the fast-growing IP (Internet protocol) storage segment of the data storage market. Unlike traditional storage area networks, IP storage netw...
Shares of Silicon Valley chip giant Intel closed up nearly 8.5 percent at just under US$19 Tuesday on news that an equity analyst at investment bank Piper Jaffray upgraded the stock to a buy rating The upgrade comes at a time when shares of other chipmakers such as Advanced Micro Devices and Texas Instruments are trading well below their 52-week hi...
Several Silicon Valley Congress members have urged the U.S. Department of Justice not to interfere in the pending online advertising deal between search engine giants Google and Yahoo Mountain View, Calif.-based Google and Sunnyvale, Calif.-based Yahoo are situated in the heart of Silicon Valley....
Silicon Valley semiconductor company Transmeta has put itself up for sale The Santa Clara, Calif.-based chip designer hired investment bank Piper Jaffray in early 2008 to assist it in exploring strategic options -- including a potential sale. Piper Jaffray will head up the effort to find a buyer....
Yahoo has rejiggered its online display advertising engine in the hope that it can dominate the segment in the same way rival Google owns the search advertising market Called "APT" -- the acronym doesn't stand for anything, according to Yahoo Vice President of Product Management John Slade -- the new platform is designed to make it more efficient f...
Cisco has made countless billions selling switches and routers -- the network equipment that monitors and directs Internet traffic and keeps data flowing smoothly Now, the San Jose, Calif.-based hardware giant is moving into another market: corporate communications software....
Online movie rental company Netflix has signed distribution deals with two heavy hitters from the TV world -- the CBS Television Network and the Disney-ABC Television Group Los Gatos, Calif.-based Netflix will soon have a stable of new and syndicated television shows that Netflix users can stream over the Internet -- "CSI," "NCIS," "Hannah Montana,...
Microsoft announced plans to buy back US$40 billion of its own stock, increase its dividend by 18 percent, and tap the debt markets for the first time in its 33-year history The moves come at a time when many companies are battening down the hatches in anticipation of an ever-tightening credit market as a result of the recent turmoil on Wall Street...
Networking giant Cisco Systems said Friday that will acquire instant-messaging software maker Jabber. Terms of the pending deal were not disclosed Denver-based Jabber makes an open source instant-messaging software that supports an assortment of devices across a business' IT network. Jabber also makes it possible for users to talk to one another ac...
Enterprise software giant Oracle surpassed Wall Street expectations Friday by reporting a 28 percent boost in profit for the quarter ended Aug. 31 However, Redwood City, Calif.-based Oracle said revenue and profit growth will slow down in the next quarter as the U.S. economy loses steam. The rising strength of the U.S. dollar against foreign curren...
In a week that has cleaved once-mighty Wall Street institutions asunder, no market is safe from panic-induced losses, and that includes the technology sector The flight of investors from equities markets into low-yield U.S. Treasury bonds, gold and silver, and other fixed-income instruments has caused a steep decline in technology stocks....
BillShrink, a Silicon Valley Internet startup, has launched a new free service that helps consumers to make sense of the ever-changing offers, rules and rewards programs in the credit card market Here's how the seven-employee firm's service works: Consumers go to BillShrink.com and fill out an online survey that asks questions about their credit ha...
Korean consumer electronics giant Samsung has launched a US$5.85 billion hostile takeover bid of flash memory chipmaker SanDisk News of the all-cash offer for SanDisk caused shares of the Milpitas, Calif.-based company to skyrocket more than 40 percent in early morning trading....
Finding a quality television stand on the Internet should be pretty easy in this day and age of Google and Amazon.com, but back in late 2003, it wasn't Especially if one lived in Vancouver, British Columbia, like e-commerce entrepreneur Arash Fasihi did....
Silicon Valley computing giant HP has announced it will cut 24,600 jobs, or about 7.5 percent of its global workforce, over the next three years. Nearly half of those cuts will take place in the U.S The move is part of HP's integration of Plano, Texas-based Electronic Data Systems, which HP acquired for US$13.9 billion earlier this year.
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