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Nortel plans cost-cutting moves

Jul 28, 20044 mins

Latest financial news.

Nortel plans cost-cutting moves, 07/27/04

Nortel next month plans to announce efforts to rein in operating costs and boost profits.

Bells’ revenues buoyed by wireless and data, 07/27/04

Verizon and BellSouth this week recorded higher quarterly earnings on growth in wireless and data services.

Venture funding climbs, refocuses on start-ups, 07/27/04

Venture funding in the information technology sector continues to grow, according to a pair of recent reports, with early-stage companies seeing more investments than they have in previous years.

Symbol to buy RFID company Matrics, 07/27/04

Symbol Technologies on Tuesday moved to beef up its radio frequency identification capabilities with an agreement to acquire Matrics Inc., a maker of RFID readers and tags.

Alcatel gets closer to Tropic, 07/27/04

Alcatel this week said it is investing an undisclosed amount in Tropic Networks, a maker of reconfigurable optical add/drop multiplexers (ROADM).

PeopleSoft misses lowered revenue forecast, 07/27/04

PeopleSoft fell short of its reduced revenue targets in the second quarter, a result the company blamed on hoopla surrounding the ongoing legal battle between the U.S. Department of Justice and Oracle …

Watchfire in deal to acquire Sanctum, 07/26/04

Watchfire, of Waltham, Mass., which makes the WebXM server-based scanning tool for accessing compliance with privacy issues, announced it has entered into an agreement to acquire security product …

BayStar threatens SCO with lawsuit, 07/26/04

The SCO Group and investment firm BayStar Capital are apparently unable to agree on whether a June stock repurchase agreement between the two companies has closed, and BayStar now intends to file a …

Microsoft rejects Japan Fair Trade Commission finding, 07/26/04

Microsoft has rejected a recommendation by the Japan Fair Trade Commission (JFTC) that certain provisions in license agreements between it and Japanese PC vendors violate the country’s …

Ex-employee alleges Google discriminates, 07/24/04

A former Google employee is suing the search engine company alleging wrongful termination and discrimination on the basis of age and disability.

Gateway re-embracing PC market amid heavy Q2 losses, 07/23/04

Gateway will refocus its attention on the PC market as it moves away from the consumer electronics market it believed would return it to profitability a year ago, the company said Thursday during …

Microsoft to hire 7,000 people, looks to sell Slate, 07/23/04

Microsoft said on Friday that it plans to hire as many as 7,000 people in its current fiscal year and increase spending on research and development. The software maker also said it is talking to …

Microsoft revenue climbs 15%, 07/22/04

Profiting from continued strength in the PC market, Microsoft Thursday defied earnings misses by other software vendors and reported a 15% increase in revenue for the final quarter of its 2004 fiscal year.

AT&T income down, company shifts focus, 07/22/04

AT&T Thursday posted a drop in net income of $428 million from the second quarter of 2003 and said it will shift its focus away from residential telephone services.

SAP appoints new head of SMB initiatives, 07/22/04

German business software vendor SAP Thursday selected Donna Troy to head its All-in-One and Business One small and midsize international channel and business development programs.

Oracle hiring at steady pace in India, 07/22/04

Oracle is recruiting about 250 employees per month in India, said Charles Phillips, the company’s president, on a two-day visit to the country.

CA shows revenue growth but cuts sales forecast, 07/22/04

Computer Associates released quarterly financial results on Thursday meeting its reduced expectations, but in an indication it sees continuing problems ahead, lowered its guidance for the rest of its …