Financial

Your source for the latest news on networking in the financial vertical market.

Wall Street Beat: Cisco, market reports cheer tech
Nov. 05, 2009
Good news about the economy along with upbeat statements from industry leaders and market researchers are helping to instill confidence in the tech sector after a rollercoaster ride on U.S. exchanges over the past few ...

Intuit to phase out Quicken Online in favor of Mint.com
Nov. 05, 2009
When financial software maker Intuit acquired Mint.com, there was quite a bit of uncertainty as to what would happen to the popular online financial service. More often than not, when a startup is acquired by a large, ...

Lenovo profits return as restructuring pays off
Nov. 05, 2009
Top Chinese PC maker Lenovo posted its first quarterly net profit in a year on Thursday, marking gains from a restructuring and strong sales in emerging markets.

Microsoft discontinues accounting software
Oct. 30, 2009
Microsoft is spiking its Office Accounting software family and will stop distributing the products as of Nov. 16, according to a posting on the company's Web site.

Acer posts record Q3 revenue, forecasts big netbook growth
Oct. 30, 2009
Acer reported its best quarterly revenue ever on Friday, and forecast even better times ahead.

Alcatel-Lucent's losses deepen as sales drop
Oct. 30, 2009
Alcatel-Lucent saw third-quarter losses increase and sales drop compared to the same period last year, but the company still expects to break even for the full year, it said on Friday.

Samsung reports good Q3, bright outlook for 2010
Oct. 30, 2009
Samsung Electronics achieved healthy increases in sales and profits during the third quarter of the financial year thanks to higher demand for its components and finished products, it said Friday. The company also said ...

HCL reports 25.8 percent year-on-year revenue growth in Q1
Oct. 29, 2009
HCL Technologies (HCLT) has recorded a 25.8 per cent year-on-year (YoY) growth in revenues, said the Indian global IT services company releasing its first quarter results on Wednesday (28 Oct).

Motorola posts surprise profit
Oct. 29, 2009
Even before the phones it is hinging its future livelihood on hit the market, Motorola posted a surprise profit and upped expectations for the current quarter.

TSMC reports best profit in a year, ups chip gear spending
Oct. 29, 2009
Taiwan Semiconductor Manufacturing (TSMC) reported its best quarterly net profit and sales in a year on Thursday, and predicted even better times ahead as the impact of the global recession fades.

Nintendo profit halved as Wii console sales slow
Oct. 29, 2009
For the last few years Nintendo has been riding high on the runaway success of the Wii console but now that success appears to slowing considerably. Sales and profit at the Japanese games company fell sharply during the ...

SMIC extends loss streak, but revenue up
Oct. 29, 2009
Semiconductor Manufacturing International (SMIC), China's largest chip maker, posted its tenth straight quarterly loss on Wednesday, but a rise in revenue from the past quarter reflected the chip industry's ongoing ...

Hurt by server slump, Symantec sees market stabilizing
Oct. 28, 2009
With revenue down slightly during its latest fiscal quarter, Symantec said Wednesday that it was starting to see some stabilization in enterprise spending.

SAP earnings rise as revenue continues to slip
Oct. 28, 2009
SAP's revenue fell in the third quarter, but earnings rose -- although neither figure was as high as analysts had hoped. The company said it expected the decline in software and software-related service revenue to ...

UMC posts best Q3 in years on stronger chip sales
Oct. 28, 2009
United Microelectronics (UMC), the world's second-largest contract chip maker, reported its best quarterly net profit in two years on Wednesday due to strong chip sales.

Judge says TD Ameritrade's proposed security fixes not enough
Oct. 27, 2009
A federal judge's rejection of a proposed settlement by TD Ameritrade Inc. in a data breach lawsuit marks the second time in recent months where a court has weighed in on what it consider to be basic security standards ...

Toshiba ekes out small operating profit in first half
Oct. 27, 2009
Toshiba ended the April to September period, the first half of its fiscal year, with its operations in the black turning around losses last year although sales fell sharply and the company lost money overall, it said ...

Outsourcer Wipro continues to be affected by recession
Oct. 27, 2009
Wipro, India's third-largest outsourcer, said Tuesday that its IT services revenue in U.S. dollar terms had declined by 4 percent to US$1.1 billion in the quarter ended Sept. 30 against the same quarter last year.

China's Baidu sees profit surge as lead over Google grows
Oct. 27, 2009
Top Chinese search engine Baidu.com reported a 40 percent hike in net income on Monday as the company appeared set to continue strengthening its lead over rival Google.

Verizon revenue up slightly in third quarter
Oct. 26, 2009
Verizon Communications reported revenue of US $27.3 billion for the third quarter of 2009, up 10.2 percent from a year earlier, but up only 0.6 percent if revenue from the January acquisition of competitor AllTel is ...

India's 3G, Wimax license auctions scheduled for January
Oct. 26, 2009
India's Department of Telecommunications (DOT) has fixed Jan. 14 as the tentative date for the auction of 3G licenses in the country, according to a notice on its Web site on Saturday.

Microsoft sales and earnings drop less than expected
Oct. 23, 2009
Microsoft reported revenue that was down 14 percent year-on-year for its first fiscal quarter, with net income down 17 percent -- but it still beat analyst expectations on both counts.

Retail sales of Windows 7 delayed in India
Oct. 22, 2009
Microsoft launched its new Windows 7 operating system in India Thursday, but customers who want to buy off-the-shelf packages of the operating system at a retail store will have to wait longer.

Sneak peek into XPI's DisclosureNet
Oct. 22, 2009
Publicly traded companies preparing for the upcoming overhaul from Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS) can obtain easy access to IFRS documents with an ...

VMware reports a sharp drop in profit
Oct. 21, 2009
VMware's third-quarter profit dropped by more than half as the company invested more heavily in research and development, though its revenue increased 4 percent from a year earlier, the company said Wednesday.