Latest financial news.
Visto sues RIM for patent infringement, 05/01/06
BlackBerry users have another patent lawsuit to worry about. Just weeks after their service was nearly shut down by a lawsuit brought by NTP, the wireless e-mail devices are now being threatened by legal action brought by software provider Visto.
Nortel restatements even larger than anticipated, 05/01/06
Nortel this week said it completed restatements of $1.5 billion in inappropriately reported revenue for the years ended 2003 and 2004, and the first nine months of 2005.
Opinion: Lucent and Alcatel: A second look at ‘Lucatel’, 05/01/06
If I were Pat Russo, the Alcatel CEO-in-waiting, my biggest worry would be Paris in the spring. Not the weather, but the riots. The government and big employers are in a quandary because of France’s traditional stability when it comes to employment.
Napster launches free, on-demand music player, 05/01/06
Napster has relaunched the Napster Web site by allowing U.S. customers to listen to music free, the company announced Monday.
Plaxo to acquire HipCal and its online calendaring technology, 05/01/06
Plaxo, the online address book company, announced Monday plans to acquire HipCal with the intent of strengthening its online calendaring options.
Gartner: Infineon’s DRAM unit makes big Q1 gains, 05/01/06
Infineon might have just gotten its biggest boost for its proposed public stock offering of DRAM spinoff Qimonda, moving up to second place in global revenue for DRAM during the first quarter, market researcher Gartner Dataquest said Monday.
Splunk touts partnership, module with CA, 05/01/06
Log file search and indexing specialist Splunk Inc. announced a partnership with CA Inc. Monday that will include an integration module between the start-up’s software and CA’s Unicenter systems management product.
INTEROP – Bigger Interop in store this week, 05/01/06
Interop Las Vegas 2006 kicks off bigger and broader this week, with promoters touting it as the biggest IT show in North America in the era following the dot-com bust.
Visto sues RIM for patent infringement – Network World, 05/01/06
BlackBerry users have another patent lawsuit to worry about. Just weeks after their service was nearly shut down by a lawsuit brought by NTP, the wireless e-mail devices are now being threatened by legal action brought by software provider Visto.
XO ‘launches’ familiar name for fixed wireless, 05/01/06
XO Holdings “launched” a company . . . one that bore it six years ago.
Level 3 to make another acquisition, 05/01/06
According to a story in the Wall Street Journal, Level 3 is expected on Monday to announce plans to acquire TelCove in a deal valued at about $1 billion.
Deutsche Telekom to begin IPTV test in May, 04/28/06
Deutsche Telekom AG will begin testing an IPTV service over its new high-speed network next month, kicking off what could eventually be one of the world’s largest rollouts of the technology, the company said on Thursday.
EDS lands $1.7 billion outsourcing contract with Kraft Foods, 04/28/06
EDS Friday said it signed a seven-year, $1.7 billion outsourcing services contract with food and beverage behemoth Kraft Foods.
Acer reports strong Q1; says it fears HP, not Dell, 04/28/06
Acer reported on Friday that its first-quarter net profit nearly doubled from a year ago despite strong competition in the PC market from rivals such as HP and Dell.
Judge leaves lawyers speechless in Microsoft antitrust case, 04/27/06
Lawyers representing both sides in the appeal of the European Commission’s 2004 antitrust ruling against Microsoft were left fumbling Thursday under cross-examination by one of the 13 judges hearing arguments.
Microsoft post 16% growth in profits for fiscal third quarter, 04/27/06
Amid product delays, management shake-ups, and continuing European legal troubles, Microsoft on Thursday posted nearly $3 billion in net income for its fiscal third quarter on revenue of almost $11 billion.
NetWare Newsletter: Larry Ellison and that story about buying Novell, 04/27/06
Novell and acquisitions were all the rage in the press last week. Larry Ellison gave an interview to London’s Financial Times about Linux and said …
Attachmate buys NetIQ for $495 million, 04/27/06
AttachmateWRQ Thursday said it will acquire NetIQ for $495 million to create a stronger company offering enterprise software products.
Nortel adjusts restatements, 04/27/06
Nortel said it will file first-quarter results in June after determining that revenue restatements for 2005, 2004 and 2003 had to be adjusted. The company …
Intel warns of sinking profits, possible layoffs, 04/27/06
Intel expects a 3% drop in revenue for 2006 and plans a reorganization that could include layoffs over the next 90 days, CEO Paul Otellini said Thursday.
Lucent closes Riverstone buy, 04/27/06
Lucent this week said it completed its acquisition of certain assets of metro Ethernet router maker Riverstone Networks.
Report: Intel will restructure, CEO says, 04/27/06
A broad restructuring will affect all parts of Intel, CEO Paul Otellini told financial analysts Thursday in New York, the Wall Street Journal reported in its online edition.
Microsoft stepping up search research in China, 04/27/06
Pressured by Google globally and local-language rival Baidu, Microsoft is seeking to distinguish itself again in China’s competitive search market by expanding and refining its search offerings.
Siemens grows profit, improvement plans kick in, 04/27/06
German electronics giant Siemens AG posted a profit gain Thursday for the second quarter of its fiscal year. It follows four consecutive quarters of lower earnings, showing signs that restructuring efforts introduced by the group’s new chief executive …
Avocent to buy LANDesk for $416 million, 04/27/06
Infrastructure management vendor Avocent has agreed to buy LANDesk Group, which makes desktop management products, for $416 million, the companies said Thursday.
Alcatel profit drops ahead of Lucent merger, 04/27/06
In its first earnings report since agreeing to merge with Lucent, Alcatel reported a drop in first-quarter net income on Thursday and warned that increasing competition will probably slow its revenue growth in the second quarter.
Sprint sales soar, but M&A costs hit profit, 04/26/06
A sharp rise in first-quarter revenue at Sprint Nextel Corp. failed to offset acquisition and integration costs, the carrier reported Wednesday.
Amazon.com’s revenue up in Q1, but earnings fall, 04/25/06
Amazon.com grew its revenue in its first quarter, ended March 31, but its net income fell, as the e-commerce giant faced higher operating expenses compared with the same quarter last year, the company announced Tuesday.
Investments in wireless start-ups fell in first quarter, 04/25/06
Even though the largest venture capital deal for the first quarter of 2006 went to a wireless entertainment company, the overall wireless industry saw an 11% dip in investments for the quarter, after enjoying most of last year in investors’ good graces.
Wells Fargo, AOL to join Symantec anti-phishing effort, 04/25/06
Symantec is planning to revamp the Phish Report Network, an online project aimed at cutting down on “phishing” identity theft attacks.
Lucent earnings drop ahead of planned merger, 04/25/06
Lucent, which plans to merge with French equipment manufacturer Alcatel, Tuesday reported a drop in second-quarter earnings resulting in part from litigation charges and lower sales.
CA reports disappointing preliminary Q4 results, 04/25/06
CA reported disappointing preliminary results for the fourth quarter of fiscal 2006 Tuesday, blaming both a change in its accounting model in relation to recognizing revenue from acquisitions and a slow sales bookings start to the quarter.
Broadband, wireless drive AT&T profit, 04/25/06
AT&T Tuesday reported net income of $1.45 billion for the first quarter of 2006, a slight increase over the combined net incomes as reported a year ago by the old AT&T and SBC, the two companies that merged in November.
Sun users offer advice to new CEO Schwartz, 04/25/06
Wall Street isn’t the only group looking for improvements from Sun’s new CEO and president, Jonathan Schwartz. Users are also candidly weighing in with some specific changes they want Sun to make, even if they see Schwartz’s appointment as a sign of …
Enterasys names new CEO, 04/25/06
Enterasys announced that Michael Fabiaschi will become the company’s new CEO, immediately replacing Mark Asslet, who is leaving the company “to pursue other interests.”
Seiko Epson has first annual loss in 4 years, 04/25/06
Seiko Epson recorded its first net loss in four years for the fiscal year that just ended as restructuring costs exacerbated already tough market conditions for the Japanese company.
